Bank of New York Mellon Corp Sells 45,257 Shares of CAE Inc. (NYSE:CAE)

Bank of New York Mellon Corp trimmed its stake in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 8.4% in the second quarter, HoldingsChannel.com reports. The fund owned 495,605 shares of the aerospace company’s stock after selling 45,257 shares during the quarter. Bank of New York Mellon Corp’s holdings in CAE were worth $15,264,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CAE. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of CAE during the 2nd quarter valued at $25,000. Trustcore Financial Services LLC acquired a new position in shares of CAE during the 2nd quarter worth $33,000. Bessemer Group Inc. acquired a new position in shares of CAE during the 2nd quarter worth $43,000. Arkadios Wealth Advisors raised its holdings in shares of CAE by 44.7% during the 2nd quarter. Arkadios Wealth Advisors now owns 2,201 shares of the aerospace company’s stock worth $67,000 after buying an additional 680 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of CAE by 50.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 2,977 shares of the aerospace company’s stock worth $92,000 after buying an additional 996 shares in the last quarter. Hedge funds and other institutional investors own 56.28% of the company’s stock.

CAE has been the subject of a number of research analyst reports. Scotiabank boosted their price target on CAE from C$44.00 to C$46.00 and gave the stock an “outperform” rating in a report on Thursday, August 12th. CIBC boosted their price target on CAE from C$43.00 to C$44.00 and gave the stock an “outperform” rating in a report on Thursday, August 12th. Desjardins cut CAE from a “buy” rating to a “hold” rating in a report on Thursday, August 12th. Bank of America cut CAE from a “neutral” rating to an “underperform” rating in a report on Wednesday, August 25th. Finally, Zacks Investment Research raised CAE from a “sell” rating to a “hold” rating in a report on Tuesday, August 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CAE has an average rating of “Hold” and a consensus target price of $39.70.

Shares of CAE stock opened at $30.48 on Thursday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 98.33, a PEG ratio of 4.97 and a beta of 1.81. The stock has a 50-day moving average of $29.44 and a 200-day moving average of $30.06. The company has a current ratio of 1.30, a quick ratio of 1.06 and a debt-to-equity ratio of 0.66. CAE Inc. has a 1-year low of $15.53 and a 1-year high of $32.19.

CAE (NYSE:CAE) (TSE:CAE) last issued its quarterly earnings results on Wednesday, August 11th. The aerospace company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The company had revenue of $612.76 million during the quarter, compared to analysts’ expectations of $608.68 million. CAE had a return on equity of 7.39% and a net margin of 3.50%. Sell-side analysts forecast that CAE Inc. will post 0.76 earnings per share for the current year.

CAE Company Profile

CAE, Inc engages in the provision of digital immersion and training services for the civil aviation, defense and security, and healthcare markets. It operates through the following segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare. The Civil Aviation Training Solutions segment focuses on aviation professionals, airlines, business aviation operators, and aircraft manufacturers.

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Institutional Ownership by Quarter for CAE (NYSE:CAE)

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