Mackenzie Financial Corp Sells 1,004,118 Shares of CAE Inc $CAE

Mackenzie Financial Corp cut its stake in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 6.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,448,881 shares of the aerospace company’s stock after selling 1,004,118 shares during the period. Mackenzie Financial Corp owned about 4.19% of CAE worth $398,153,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAE. Neuberger Berman Group LLC lifted its holdings in CAE by 382.5% during the second quarter. Neuberger Berman Group LLC now owns 51,521 shares of the aerospace company’s stock valued at $1,507,000 after purchasing an additional 40,842 shares in the last quarter. Brandes Investment Partners LP increased its stake in shares of CAE by 4.4% in the second quarter. Brandes Investment Partners LP now owns 14,803,106 shares of the aerospace company’s stock worth $433,287,000 after purchasing an additional 628,848 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of CAE during the 2nd quarter valued at $5,854,000. Arrowstreet Capital Limited Partnership raised its position in shares of CAE by 356.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,135,546 shares of the aerospace company’s stock valued at $33,267,000 after purchasing an additional 886,951 shares during the period. Finally, Generali Asset Management SPA SGR purchased a new position in shares of CAE during the 3rd quarter valued at $999,000. Institutional investors own 67.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on CAE shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of CAE in a report on Sunday, February 15th. TD Securities reissued a “buy” rating on shares of CAE in a report on Tuesday, February 17th. Scotiabank restated an “outperform” rating on shares of CAE in a research report on Tuesday, February 17th. Stifel Nicolaus assumed coverage on CAE in a research note on Wednesday, March 4th. They issued a “buy” rating for the company. Finally, Zacks Research upgraded CAE from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.33.

CAE Price Performance

Shares of NYSE:CAE opened at $28.51 on Wednesday. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 3.43 and a beta of 1.11. The firm has a fifty day moving average price of $31.38 and a 200 day moving average price of $29.09. CAE Inc has a fifty-two week low of $20.36 and a fifty-two week high of $34.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.91.

CAE (NYSE:CAE) (TSE:CAE) last announced its quarterly earnings results on Thursday, February 12th. The aerospace company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. CAE had a net margin of 7.70% and a return on equity of 7.75%. The business had revenue of $911.78 million for the quarter, compared to analysts’ expectations of $922.62 million. During the same quarter in the previous year, the company earned $0.29 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that CAE Inc will post 0.83 earnings per share for the current fiscal year.

CAE Company Profile

CAE Inc is a global leader in training and simulation technologies, headquartered in Montréal, Canada. The company specializes in the design and manufacture of high-fidelity flight simulators and training systems for civil aviation, defense and security, and healthcare markets. Leveraging advanced software and hardware integration, CAE delivers comprehensive training solutions that address pilot proficiency, mission readiness and patient safety across a wide range of platforms.

In civil aviation, CAE partners with major airlines, aircraft manufacturers and flight schools to provide pilot training services, courseware development and crew scheduling solutions.