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

Pinnacle Associates Ltd. increased its position in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 3.8% during the third quarter, Holdings Channel reports. The fund owned 874,588 shares of the aerospace company’s stock after acquiring an additional 32,328 shares during the quarter. Pinnacle Associates Ltd.’s holdings in CAE were worth $16,399,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CAE. Galibier Capital Management Ltd. increased its stake in CAE by 9.9% in the third quarter. Galibier Capital Management Ltd. now owns 1,088,488 shares of the aerospace company’s stock valued at $20,457,000 after purchasing an additional 97,876 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of CAE during the 3rd quarter worth about $339,000. Allworth Financial LP boosted its position in shares of CAE by 26.1% in the third quarter. Allworth Financial LP now owns 6,408 shares of the aerospace company’s stock worth $120,000 after acquiring an additional 1,327 shares during the last quarter. Cromwell Holdings LLC grew its holdings in CAE by 103.4% in the third quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 915 shares during the period. Finally, Legacy Wealth Asset Management LLC acquired a new position in CAE during the third quarter worth approximately $662,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

CAE Stock Up 0.6 %

Shares of CAE stock traded up $0.11 on Wednesday, hitting $18.86. The stock had a trading volume of 61,198 shares, compared to its average volume of 585,165. CAE Inc. has a 52-week low of $15.95 and a 52-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 market capitalization of $6.02 billion, a price-to-earnings ratio of -26.00, a P/E/G ratio of 1.33 and a beta of 1.67. The stock’s 50 day moving average is $18.20 and its 200-day moving average is $18.55.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings data 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. CAE had a positive return on equity of 5.96% and a negative net margin of 7.38%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. CAE’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts expect that CAE Inc. will post 0.86 earnings per share for the current 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.