Renaissance Technologies LLC Takes Position in CAE Inc $CAE

Renaissance Technologies LLC acquired a new position in shares of CAE Inc (NYSE:CAE) (TSE:CAE) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 261,900 shares of the aerospace company’s stock, valued at approximately $6,822,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC acquired a new stake in CAE in the 1st quarter valued at approximately $4,170,000. Goldman Sachs Group Inc. boosted its position in CAE by 142.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,709,480 shares of the aerospace company’s stock worth $42,036,000 after acquiring an additional 1,004,820 shares during the period. United Services Automobile Association boosted its position in CAE by 4.5% during the 1st quarter. United Services Automobile Association now owns 10,822 shares of the aerospace company’s stock worth $265,000 after acquiring an additional 462 shares during the period. Prudential Financial Inc. bought a new position in shares of CAE in the second quarter worth $287,000. Finally, Marshall Wace LLP bought a new position in shares of CAE in the second quarter worth $3,655,000. 67.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CAE has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on shares of CAE from $42.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 26th. National Bank Financial reiterated an “outperform” rating on shares of CAE in a research report on Friday, May 22nd. Jefferies Financial Group restated a “hold” rating and set a $26.00 price target on shares of CAE in a research report on Thursday, June 25th. Zacks Research raised shares of CAE from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley cut shares of CAE from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.00.

CAE Stock Up 1.4%

CAE opened at $26.81 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.77 and a current ratio of 0.96. The company has a market capitalization of $8.62 billion, a PE ratio of 37.76, a P/E/G ratio of 2.85 and a beta of 1.01. The stock’s fifty day moving average is $25.37 and its 200-day moving average is $27.35. CAE Inc has a one year low of $22.76 and a one year high of $34.24.

CAE (NYSE:CAE) (TSE:CAE) last announced its earnings results on Thursday, May 21st. The aerospace company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $953.79 million during the quarter, compared to analysts’ expectations of $924.83 million. CAE had a return on equity of 7.45% and a net margin of 6.36%.The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. CAE has set its FY 2027 guidance at 0.880-0.930 EPS. On average, equities analysts predict that CAE Inc will post 0.87 EPS 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.