Brandes Investment Partners LP Cuts Position in Embraer S.A. (NYSE:ERJ)

Brandes Investment Partners LP lowered its position in shares of Embraer S.A. (NYSE:ERJ) by 21.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,268,752 shares of the aerospace company’s stock after selling 3,409,815 shares during the period. Embraer accounts for 3.9% of Brandes Investment Partners LP’s portfolio, making the stock its biggest holding. Brandes Investment Partners LP owned about 6.68% of Embraer worth $319,290,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ERJ. American Century Companies Inc. grew its stake in shares of Embraer by 6.4% in the second quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock worth $59,450,000 after purchasing an additional 137,695 shares in the last quarter. Renaissance Technologies LLC grew its position in Embraer by 13.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company’s stock valued at $42,539,000 after buying an additional 197,600 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Embraer by 102.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock valued at $37,141,000 after buying an additional 728,592 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Embraer by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock worth $21,249,000 after buying an additional 59,084 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Embraer by 76.5% in the 2nd quarter. Marshall Wace LLP now owns 712,112 shares of the aerospace company’s stock worth $18,372,000 after acquiring an additional 308,729 shares during the period. Institutional investors and hedge funds own 34.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ERJ. StockNews.com downgraded Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group raised their target price on Embraer from $28.50 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. Finally, Bank of America reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Embraer in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Embraer presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Embraer Stock Down 3.3 %

Shares of NYSE:ERJ opened at $35.72 on Monday. The firm has a 50 day simple moving average of $32.61 and a 200 day simple moving average of $29.03. The company has a market cap of $6.56 billion, a PE ratio of 24.81 and a beta of 1.69. Embraer S.A. has a 52 week low of $12.48 and a 52 week high of $37.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50.

Embraer (NYSE:ERJ) last announced its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. Embraer had a return on equity of 5.94% and a net margin of 6.76%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the company posted $0.32 EPS. As a group, research analysts expect that Embraer S.A. will post 1.49 earnings per share for the current year.

Embraer 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.