CAE Inc (NYSE:CAE) Shares Sold by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. reduced its stake in CAE Inc (NYSE:CAE) (TSE:CAE) by 50.6% during the 1st quarter, HoldingsChannel reports. The firm owned 124,667 shares of the aerospace company’s stock after selling 127,535 shares during the period. CAE accounts for 4.1% of Summerhill Capital Management lnc.’s portfolio, making the stock its 11th biggest position. Summerhill Capital Management lnc.’s holdings in CAE were worth $3,068,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in CAE by 25.6% in the 4th quarter. Principal Financial Group Inc. now owns 29,900 shares of the aerospace company’s stock valued at $759,000 after purchasing an additional 6,100 shares in the last quarter. Truist Financial Corp boosted its holdings in CAE by 2.5% during the fourth quarter. Truist Financial Corp now owns 63,059 shares of the aerospace company’s stock worth $1,600,000 after buying an additional 1,519 shares in the last quarter. Bank of New York Mellon Corp grew its position in CAE by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 295,414 shares of the aerospace company’s stock worth $7,498,000 after buying an additional 26,561 shares during the period. US Bancorp DE grew its position in CAE by 10.4% during the fourth quarter. US Bancorp DE now owns 8,887 shares of the aerospace company’s stock worth $226,000 after buying an additional 835 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of CAE by 76.9% during the 4th quarter. Jones Financial Companies Lllp now owns 34,349 shares of the aerospace company’s stock valued at $872,000 after acquiring an additional 14,929 shares during the period. Institutional investors and hedge funds own 67.36% of the company’s stock.

CAE Price Performance

CAE stock opened at $26.43 on Wednesday. The stock has a market capitalization of $8.47 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.17 and a beta of 1.28. The stock’s fifty day simple moving average is $25.54 and its 200-day simple moving average is $24.60. CAE Inc has a 52-week low of $15.95 and a 52-week high of $27.62. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 0.62.

CAE (NYSE:CAE) (TSE:CAE) last posted its quarterly earnings data on Tuesday, May 13th. The aerospace company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. CAE had a net margin of 8.55% and a return on equity of 8.17%. 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 company’s quarterly revenue was up 13.2% compared to the same quarter last year. Equities research analysts expect that CAE Inc will post 0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAE. Scotiabank raised CAE from a “sector perform” rating to a “sector outperform” rating in a report on Thursday, May 15th. Bank of America raised CAE from an “underperform” rating to a “neutral” rating in a research note on Friday, March 7th. Jefferies Financial Group reduced their price target on shares of CAE from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, May 16th. Royal Bank Of Canada downgraded CAE from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $38.00 in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded CAE from a “hold” rating to a “buy” rating in a research report on Tuesday, May 27th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.33.

CAE 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.