Pinnacle Associates Ltd. Grows Position in CAE Inc. (NYSE:CAE)

Pinnacle Associates Ltd. increased its stake in shares of CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 3.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 874,588 shares of the aerospace company's stock after buying an additional 32,328 shares during the quarter. Pinnacle Associates Ltd. owned about 0.27% of CAE worth $16,399,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd increased its holdings in CAE by 1.3% in the 2nd quarter. JARISLOWSKY FRASER Ltd now owns 22,249,466 shares of the aerospace company's stock worth $413,168,000 after buying an additional 284,768 shares during the period. Brandes Investment Partners LP lifted its holdings in CAE by 103.8% in the second quarter. Brandes Investment Partners LP now owns 11,071,485 shares of the aerospace company's stock valued at $206,027,000 after acquiring an additional 5,640,269 shares during the period. Vanguard Group Inc. grew its stake in shares of CAE by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 10,832,988 shares of the aerospace company's stock worth $223,593,000 after purchasing an additional 127,504 shares during the period. National Bank of Canada FI increased its holdings in shares of CAE by 36.4% during the 2nd quarter. National Bank of Canada FI now owns 5,498,732 shares of the aerospace company's stock valued at $101,559,000 after purchasing an additional 1,466,880 shares in the last quarter. Finally, Earnest Partners LLC purchased a new stake in CAE during the second quarter worth $82,597,000. 67.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAE has been the subject of a number of recent analyst reports. 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. StockNews.com cut shares of CAE from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Finally, Morgan Stanley cut shares of CAE from an "overweight" rating to an "equal weight" rating in a research note on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.00.

CAE Stock Performance

CAE stock traded up $0.11 during trading hours on Wednesday, reaching $18.86. 61,198 shares of the stock were exchanged, compared to its average volume of 585,165. The stock has a market cap of $6.02 billion, a P/E ratio of -26.00, a P/E/G ratio of 1.33 and a beta of 1.67. CAE Inc. has a 52-week low of $15.95 and a 52-week high of $23.24. The firm's 50 day moving average is $18.20 and its 200 day moving average is $18.55. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89.

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

CAE Company 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, the Oceania, Africa, and Rest of the Americas. It operates through two segments, Civil Aviation; and Defense and Security. The Civil Aviation segment offers training solutions for flight, cabin, maintenance, and ground personnel in commercial, business, and helicopter aviation; a range of flight simulation training devices; and ab initio pilot training and crew sourcing services, as well as aircraft flight operations solutions.

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