Hsbc Holdings PLC Sells 209,638 Shares of CAE Inc. (NYSE:CAE)

Hsbc Holdings PLC trimmed its position in CAE Inc. (NYSE:CAE) (TSE:CAE) by 92.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,460 shares of the aerospace company’s stock after selling 209,638 shares during the quarter. Hsbc Holdings PLC’s holdings in CAE were worth $305,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of CAE by 142.8% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 707 shares during the period. Confluence Investment Management LLC increased its position in CAE by 3.5% during the second quarter. Confluence Investment Management LLC now owns 25,098 shares of the aerospace company’s stock valued at $466,000 after acquiring an additional 857 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of CAE by 2.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 33,517 shares of the aerospace company’s stock valued at $632,000 after acquiring an additional 871 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of CAE by 11.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 10,162 shares of the aerospace company’s stock worth $210,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake 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 worth $48,000 after purchasing an additional 1,100 shares during the period. 67.36% of the stock is currently owned by hedge funds and other institutional investors.

CAE Stock Performance

NYSE CAE opened at $18.39 on Friday. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -25.54, a PEG ratio of 1.31 and a beta of 1.67. The business’s 50 day moving average is $17.69 and its two-hundred day moving average is $18.76. CAE Inc. has a 12-month low of $15.95 and a 12-month high of $23.62. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.67.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAE shares. StockNews.com raised shares of CAE from a “hold” rating to a “buy” rating in a research note on Friday, September 13th. Jefferies Financial Group started coverage on shares of CAE in a research note on Thursday, June 6th. They set a “hold” rating and a $21.00 price target on the stock. Royal Bank of Canada upgraded CAE from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley lowered CAE from an “overweight” rating to an “equal weight” rating in a report on Friday, August 16th. 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 stock. Based on data from MarketBeat.com, CAE presently has a consensus rating of “Hold” and an average target price of $28.00.

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.