Pinnacle Associates Ltd. Buys 32,328 Shares of CAE Inc. (NYSE:CAE)

Pinnacle Associates Ltd. increased its stake in shares of CAE Inc. (NYSE:CAE - Free Report) TSE: CAE by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 874,588 shares of the aerospace company's stock after purchasing an additional 32,328 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.27% of CAE worth $16,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of CAE during the second quarter valued at about $33,000. Cromwell Holdings LLC grew its holdings in CAE by 103.4% during the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company's stock worth $34,000 after acquiring an additional 915 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in CAE by 86.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 1,100 shares during the period. Lazard Asset Management LLC bought a new position in shares of CAE during the first quarter valued at $77,000. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of CAE by 104.5% during the first quarter. UniSuper Management Pty Ltd now owns 4,500 shares of the aerospace company's stock worth $93,000 after purchasing an additional 2,300 shares during the period. Institutional investors own 67.36% of the company's stock.

CAE Trading Up 0.3 %

Shares of NYSE:CAE traded up $0.06 during midday trading on Wednesday, reaching $18.81. The company's stock had a trading volume of 405,913 shares, compared to its average volume of 586,871. CAE Inc. has a fifty-two week low of $15.95 and a fifty-two week high of $23.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a 50 day moving average price of $18.22 and a two-hundred day moving average price of $18.55. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -26.13, a PEG ratio of 1.33 and a beta of 1.67.

CAE (NYSE:CAE - Get Free Report) TSE: CAE last issued its quarterly earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. As a group, analysts forecast that CAE Inc. will post 0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CAE shares. Morgan Stanley downgraded CAE from an "overweight" rating to an "equal weight" rating in a report on Friday, August 16th. StockNews.com cut CAE from a "buy" rating to a "hold" rating in a research note on Friday, October 4th. Finally, Royal Bank of Canada raised CAE from a "hold" rating to a "moderate buy" rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.00.

About CAE

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.