Parallel Advisors LLC Sells 759 Shares of CAE Inc. (NYSE:CAE)

Parallel Advisors LLC cut its holdings in CAE Inc. (NYSE:CAE) (TSE:CAE) by 34.4% during the first quarter, Holdings Channel reports. The institutional investor owned 1,445 shares of the aerospace company’s stock after selling 759 shares during the quarter. Parallel Advisors LLC’s holdings in CAE were worth $36,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CAE. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of CAE by 25.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 30,917,402 shares of the aerospace company’s stock valued at $784,651,000 after purchasing an additional 6,313,165 shares in the last quarter. JARISLOWSKY FRASER Ltd grew its stake in shares of CAE by 7.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 23,994,091 shares of the aerospace company’s stock worth $606,697,000 after acquiring an additional 1,702,904 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of CAE by 1.5% during the fourth quarter. Brandes Investment Partners LP now owns 14,911,697 shares of the aerospace company’s stock worth $378,459,000 after acquiring an additional 221,205 shares during the last quarter. Vanguard Group Inc. boosted its position in CAE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,213,866 shares of the aerospace company’s stock valued at $310,134,000 after buying an additional 181,807 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in CAE in the fourth quarter valued at approximately $201,771,000. 67.36% of the stock is owned by hedge funds and other institutional investors.

CAE Stock Up 2.4%

Shares of CAE stock opened at $27.26 on Tuesday. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $27.62. The company has a quick ratio of 0.63, a current ratio of 0.86 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $8.73 billion, a PE ratio of -52.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.28. The stock’s fifty day moving average is $24.58 and its 200-day moving average is $24.35.

CAE (NYSE:CAE) (TSE:CAE) last released its quarterly earnings results on Tuesday, May 13th. The aerospace company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. CAE had a positive return on equity of 6.11% and a negative net margin of 4.96%. The company had revenue of $886.20 million during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company posted $0.37 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. Equities analysts anticipate that CAE Inc. will post 0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAE. Jefferies Financial Group decreased their target price on CAE from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group lifted their price objective on CAE from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada cut CAE from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $41.00 to $38.00 in a research note on Wednesday, May 21st. National Bank Financial upgraded CAE from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded CAE from a “hold” rating to a “buy” rating in a research report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

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.