Truist Financial Corp Sells 52,899 Shares of CAE Inc $CAE

Truist Financial Corp trimmed its holdings in shares of CAE Inc (NYSE:CAE) (TSE:CAE) by 78.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,373 shares of the aerospace company’s stock after selling 52,899 shares during the quarter. Truist Financial Corp’s holdings in CAE were worth $426,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Employees Retirement System of Texas purchased a new position in CAE in the 2nd quarter worth about $80,000. Bessemer Group Inc. grew its stake in CAE by 360.9% in the 2nd quarter. Bessemer Group Inc. now owns 4,402 shares of the aerospace company’s stock worth $129,000 after acquiring an additional 3,447 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new position in shares of CAE during the second quarter worth approximately $236,000. PNC Financial Services Group Inc. raised its stake in shares of CAE by 11.1% during the second quarter. PNC Financial Services Group Inc. now owns 8,510 shares of the aerospace company’s stock valued at $249,000 after acquiring an additional 851 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of CAE in the second quarter valued at approximately $265,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CAE. Royal Bank Of Canada reduced their price objective on CAE from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. TD Securities restated a “buy” rating on shares of CAE in a report on Monday, January 12th. Weiss Ratings raised shares of CAE from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 3rd. Zacks Research raised shares of CAE from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of CAE in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.33.

CAE Price Performance

Shares of CAE stock opened at $31.31 on Friday. The stock’s 50-day moving average is $31.37 and its 200 day moving average is $28.88. CAE Inc has a 1-year low of $20.36 and a 1-year high of $34.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.83 and a quick ratio of 0.59. The company has a market cap of $10.08 billion, a P/E ratio of 32.28, a PEG ratio of 2.38 and a beta of 1.11.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, November 11th. The aerospace company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. CAE had a net margin of 8.98% and a return on equity of 7.60%. The business had revenue of $897.99 million during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts predict that CAE Inc will post 0.83 earnings per share for the current fiscal year.

CAE 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.