CIBC Asset Management Inc Has $7.35 Million Stake in CAE Inc. (NYSE:CAE)

CIBC Asset Management Inc trimmed its stake in CAE Inc. (NYSE:CAE) (TSE:CAE) by 49.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 391,547 shares of the aerospace company’s stock after selling 380,416 shares during the period. CIBC Asset Management Inc’s holdings in CAE were worth $7,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in CAE in the 2nd quarter worth $33,000. Cromwell Holdings LLC boosted its position in shares of CAE by 103.4% during the 3rd quarter. Cromwell Holdings LLC now owns 1,800 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 915 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of CAE by 86.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock valued at $48,000 after acquiring an additional 1,100 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of CAE during the 1st quarter valued at about $77,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of CAE during the 3rd quarter valued at about $74,000. 67.36% of the stock is currently owned by institutional investors and hedge funds.

CAE Trading Down 1.1 %

CAE opened at $21.75 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.84 and a quick ratio of 0.61. The company has a market cap of $6.93 billion, a price-to-earnings ratio of -28.25, a price-to-earnings-growth ratio of 1.61 and a beta of 1.67. The firm has a 50 day simple moving average of $18.61 and a 200 day simple moving average of $18.58. CAE Inc. has a fifty-two week low of $15.95 and a fifty-two week high of $22.11.

Analysts Set New Price Targets

Several analysts have recently weighed in on CAE shares. Royal Bank of Canada upgraded shares of CAE from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 15th. Morgan Stanley lowered shares of CAE from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 16th. Finally, StockNews.com upgraded shares of CAE from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $25.00.

About CAE

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.