Ramirez Asset Management Inc. Reduces Holdings in Embraer S.A. (NYSE:ERJ)

Ramirez Asset Management Inc. reduced its position in Embraer S.A. (NYSE:ERJ) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,280 shares of the aerospace company’s stock after selling 5,129 shares during the period. Embraer makes up about 1.2% of Ramirez Asset Management Inc.’s holdings, making the stock its 19th biggest holding. Ramirez Asset Management Inc. owned approximately 0.09% of Embraer worth $6,062,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Embraer during the 4th quarter valued at approximately $42,313,000. Carrhae Capital LLP boosted its stake in Embraer by 48.1% during the 4th quarter. Carrhae Capital LLP now owns 2,670,740 shares of the aerospace company’s stock valued at $97,963,000 after acquiring an additional 866,919 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Embraer by 959.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 824,607 shares of the aerospace company’s stock valued at $30,247,000 after acquiring an additional 746,758 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Embraer during the 4th quarter worth $25,024,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of Embraer by 54.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company’s stock worth $39,343,000 after purchasing an additional 393,696 shares during the last quarter. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on ERJ. TD Cowen upgraded Embraer to a “strong-buy” rating in a research note on Thursday, December 19th. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. The Goldman Sachs Group raised their price objective on Embraer from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Embraer in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Embraer Trading Down 2.1 %

NYSE:ERJ opened at $47.51 on Friday. Embraer S.A. has a 12-month low of $23.42 and a 12-month high of $56.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.76. The business has a 50 day simple moving average of $45.63 and a 200 day simple moving average of $39.46. The firm has a market capitalization of $8.72 billion, a P/E ratio of 17.47 and a beta of 1.70.

Embraer (NYSE:ERJ) last released its quarterly earnings data on Thursday, February 27th. The aerospace company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.47. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Embraer had a net margin of 8.24% and a return on equity of 11.61%. Equities research analysts predict that Embraer S.A. will post 2.04 EPS for the current year.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. The company operates through Commercial Aviation; Defense & Security; Executive Aviation; Services & Support; and Other segments. The Commercial Aviation segment designs, develops, manufactures, and sells commercial jets, as well as leases aircraft.