Franklin Resources Inc. Sells 4,801 Shares of CAE Inc. (NYSE:CAE)

Franklin Resources Inc. trimmed its holdings in shares of CAE Inc. (NYSE:CAE) (TSE:CAE) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,366 shares of the aerospace company’s stock after selling 4,801 shares during the quarter. Franklin Resources Inc.’s holdings in CAE were worth $1,394,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of CAE by 1.6% in the 3rd quarter. Bank of Montreal Can now owns 5,057,860 shares of the aerospace company’s stock valued at $93,446,000 after buying an additional 77,489 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of CAE by 9.5% in the second quarter. Canada Pension Plan Investment Board now owns 1,033,296 shares of the aerospace company’s stock worth $19,188,000 after acquiring an additional 89,800 shares during the period. Clearline Capital LP bought a new stake in CAE in the second quarter valued at approximately $2,290,000. Intech Investment Management LLC acquired a new stake in CAE during the 3rd quarter valued at approximately $2,432,000. Finally, Pinnacle Associates Ltd. raised its holdings in CAE by 3.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 874,588 shares of the aerospace company’s stock worth $16,399,000 after purchasing an additional 32,328 shares during the last quarter. 67.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAE. Cibc World Mkts cut shares of CAE from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. StockNews.com upgraded CAE from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Desjardins upgraded CAE from a “hold” rating to a “buy” rating in a report on Monday, December 23rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, CAE currently has an average rating of “Hold” and a consensus price target of $25.00.

CAE Stock Up 1.3 %

CAE stock opened at $25.32 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.59 and a debt-to-equity ratio of 0.62. CAE Inc. has a 1-year low of $15.95 and a 1-year high of $25.33. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -32.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.74. The company’s 50 day moving average is $21.75 and its 200 day moving average is $19.40.

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.