Connor Clark & Lunn Investment Management Ltd. Cuts Stock Holdings in Embraer S.A. (NYSE:ERJ)

Connor Clark & Lunn Investment Management Ltd. reduced its position in Embraer S.A. (NYSE:ERJ) by 64.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,849 shares of the aerospace company’s stock after selling 142,809 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Embraer were worth $2,754,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ERJ. Jennison Associates LLC boosted its position in shares of Embraer by 102.1% during the third quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock valued at $47,100,000 after buying an additional 672,644 shares during the last quarter. Longitude Cayman Ltd. purchased a new stake in Embraer in the third quarter worth approximately $354,000. Thrivent Financial for Lutherans purchased a new stake in Embraer during the 3rd quarter valued at $981,000. Chesapeake Capital Corp IL boosted its stake in shares of Embraer by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 20,910 shares of the aerospace company’s stock worth $747,000 after buying an additional 4,562 shares during the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new stake in Embraer during the third quarter valued at $252,000. 34.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ERJ. UBS Group lowered shares of Embraer from a “neutral” rating to a “sell” rating and upped their price target for the company from $29.00 to $32.00 in a research report on Tuesday, November 19th. TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Finally, Bank of America raised their price objective on Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Embraer presently has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Embraer Trading Up 0.5 %

Shares of ERJ stock opened at $39.00 on Monday. The company has a market cap of $7.16 billion, a PE ratio of 14.34 and a beta of 1.70. 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 stock’s 50 day simple moving average is $35.36 and its two-hundred day simple moving average is $31.80. Embraer S.A. has a 1 year low of $16.15 and a 1 year high of $39.46.

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.