Hsbc Holdings PLC Acquires 6,889 Shares of CAE Inc. (NYSE:CAE)

Posted by on Feb 26th, 2023

Hsbc Holdings PLC boosted its holdings in CAE Inc. (NYSE:CAE – Get Rating) (TSE:CAE) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,797 shares of the aerospace company’s stock after purchasing an additional 6,889 shares during the period. Hsbc Holdings PLC owned about 0.07% of CAE worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brandes Investment Partners LP grew its position in CAE by 336.5% in the third quarter. Brandes Investment Partners LP now owns 63,937 shares of the aerospace company’s stock valued at $980,000 after purchasing an additional 49,291 shares in the last quarter. Covea Finance bought a new position in shares of CAE in the 3rd quarter valued at about $4,470,000. Letko Brosseau & Associates Inc. grew its position in shares of CAE by 35.0% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 3,401,969 shares of the aerospace company’s stock valued at $52,464,000 after acquiring an additional 882,125 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of CAE by 4.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 18,131 shares of the aerospace company’s stock valued at $284,000 after acquiring an additional 698 shares during the period. Finally, Tobam grew its position in shares of CAE by 2,779.2% in the 3rd quarter. Tobam now owns 242,229 shares of the aerospace company’s stock valued at $3,738,000 after acquiring an additional 233,816 shares during the period. Institutional investors own 62.00% of the company’s stock.

CAE Stock Performance

NYSE CAE opened at $22.48 on Friday. CAE Inc. has a 52-week low of $15.23 and a 52-week high of $27.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.71 and a current ratio of 0.97. The firm has a 50-day moving average of $21.31 and a 200-day moving average of $19.75. The stock has a market cap of $7.15 billion, a PE ratio of 52.28, a P/E/G ratio of 2.69 and a beta of 1.68.

Analysts Set New Price Targets

CAE has been the subject of a number of analyst reports. TD Securities lifted their price objective on shares of CAE from C$33.00 to C$34.00 in a research report on Friday, November 11th. The Goldman Sachs Group decreased their price objective on shares of CAE from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, November 14th. BMO Capital Markets raised their target price on shares of CAE from C$33.00 to C$35.00 in a research note on Wednesday, February 15th. Morgan Stanley upgraded shares of CAE from an “equal weight” rating to an “overweight” rating in a research note on Monday, December 12th. Finally, National Bank Financial cut their target price on shares of CAE from C$38.00 to C$33.00 in a research note on Wednesday, November 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, CAE has a consensus rating of “Moderate Buy” and an average target price of $33.25.

CAE Profile

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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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