Summerhill Capital Management lnc. Lowers Position in CAE Inc. (NYSE:CAE)

Summerhill Capital Management lnc. trimmed its stake in CAE Inc. (NYSE:CAE) (TSE:CAE) by 5.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,729 shares of the aerospace company’s stock after selling 11,037 shares during the quarter. CAE comprises 2.5% of Summerhill Capital Management lnc.’s portfolio, making the stock its 19th largest position. Summerhill Capital Management lnc.’s holdings in CAE were worth $3,485,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its stake in CAE by 142.8% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after buying an additional 707 shares during the period. Ridgewood Investments LLC purchased a new stake in CAE during the second quarter worth approximately $33,000. Hillsdale Investment Management Inc. grew its stake in CAE by 45.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 1,600 shares of the aerospace company’s stock worth $35,000 after buying an additional 500 shares during the period. Spire Wealth Management grew its stake in CAE by 52.8% during the first quarter. Spire Wealth Management now owns 2,018 shares of the aerospace company’s stock worth $42,000 after buying an additional 697 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in CAE by 86.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the aerospace company’s stock worth $48,000 after buying an additional 1,100 shares during the period. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on CAE. Jefferies Financial Group began coverage on shares of CAE in a research note on Thursday, June 6th. They issued a “hold” rating and a $21.00 target price for the company. Desjardins downgraded shares of CAE from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Morgan Stanley downgraded shares of CAE from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 16th. Canaccord Genuity Group restated a “hold” rating on shares of CAE in a research note on Wednesday, May 22nd. Finally, StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a report on Friday. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.00.

CAE Trading Down 2.1 %

CAE opened at $17.80 on Monday. The stock has a market capitalization of $5.68 billion, a PE ratio of -24.72, a P/E/G ratio of 1.31 and a beta of 1.67. The firm’s fifty day moving average price is $17.83 and its 200 day moving average price is $18.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.89 and a quick ratio of 0.61. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $25.04.

CAE (NYSE:CAE) (TSE:CAE) last issued its earnings results on Tuesday, August 13th. The aerospace company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. CAE had a negative net margin of 7.38% and a positive return on equity of 5.96%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, research analysts expect that CAE Inc. will post 0.86 EPS for the current fiscal year.

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, Oceania and Africa, and Rest of Americas. It operates through three segments: Civil Aviation, Defense and Security, and Healthcare.