Letko Brosseau & Associates Inc. Decreases Stake in CAE Inc. (NYSE:CAE)

Letko Brosseau & Associates Inc. lessened its position in shares of CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 1.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,913,829 shares of the aerospace company's stock after selling 61,925 shares during the period. CAE comprises 1.4% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 26th biggest holding. Letko Brosseau & Associates Inc. owned about 1.23% of CAE worth $72,679,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in shares of CAE by 21.3% during the fourth quarter. CIBC Asset Management Inc now owns 681,156 shares of the aerospace company's stock worth $14,749,000 after purchasing an additional 119,411 shares in the last quarter. Stanley Laman Group Ltd. raised its position in shares of CAE by 20.1% during the 2nd quarter. Stanley Laman Group Ltd. now owns 210,223 shares of the aerospace company's stock worth $3,906,000 after acquiring an additional 35,222 shares in the last quarter. Henry James International Management Inc. lifted its stake in CAE by 16.0% during the first quarter. Henry James International Management Inc. now owns 210,400 shares of the aerospace company's stock worth $4,343,000 after purchasing an additional 28,991 shares during the last quarter. Jane Street Group LLC boosted its holdings in CAE by 97.2% in the first quarter. Jane Street Group LLC now owns 305,191 shares of the aerospace company's stock valued at $6,299,000 after purchasing an additional 150,429 shares in the last quarter. Finally, Norges Bank purchased a new position in CAE in the fourth quarter valued at approximately $74,413,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

CAE Stock Performance

Shares of NYSE CAE traded down $0.24 during midday trading on Friday, reaching $17.60. 631,926 shares of the company were exchanged, compared to its average volume of 587,559. The stock has a market cap of $5.62 billion, a P/E ratio of -24.44, a PEG ratio of 1.30 and a beta of 1.67. CAE Inc. has a 1 year low of $15.95 and a 1 year high of $25.04. The stock has a fifty day simple moving average of $17.91 and a 200 day simple moving average of $18.91. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last announced its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.18 EPS. The company's revenue was up 6.0% on a year-over-year basis. On average, research analysts forecast that CAE Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of CAE from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 15th. Canaccord Genuity Group reaffirmed a "hold" rating on shares of CAE in a report on Wednesday, May 22nd. Morgan Stanley downgraded CAE from an "overweight" rating to an "equal weight" rating in a report on Friday, August 16th. Canaccord Genuity Group cut CAE from a "buy" rating to a "hold" rating in a research report on Wednesday, May 22nd. Finally, StockNews.com lowered CAE from a "buy" rating to a "hold" rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $28.00.

CAE Profile

CAE Inc, together with its subsidiaries, provides simulation training and critical operations support solutions in Canada, the United States, the United Kingdom, Europe, Asia, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.