Rhumbline Advisers Sells 28,334 Shares of Embraer S.A. (NYSE:ERJ)

Rhumbline Advisers lessened its stake in Embraer S.A. (NYSE:ERJ) by 59.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,098 shares of the aerospace company’s stock after selling 28,334 shares during the period. Rhumbline Advisers’ holdings in Embraer were worth $493,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new stake in shares of Embraer during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Embraer during the 2nd quarter worth about $44,000. Montag A & Associates Inc. lifted its position in Embraer by 221.7% during the 1st quarter. Montag A & Associates Inc. now owns 2,628 shares of the aerospace company’s stock valued at $70,000 after purchasing an additional 1,811 shares during the period. Quent Capital LLC bought a new position in shares of Embraer in the 2nd quarter valued at about $129,000. Finally, Advisors Asset Management Inc. grew its position in shares of Embraer by 33.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,598 shares of the aerospace company’s stock worth $149,000 after buying an additional 1,394 shares during the period. Institutional investors and hedge funds own 34.65% of the company’s stock.

Wall Street Analyst Weigh In

ERJ has been the subject of a number of analyst reports. Bank of America reaffirmed a “buy” rating and set a $40.00 target price on shares of Embraer in a report on Tuesday, September 17th. UBS Group lifted their price objective on Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen upgraded Embraer from a “hold” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Embraer Price Performance

Shares of NYSE:ERJ opened at $36.52 on Thursday. The company’s 50-day moving average price is $32.34 and its two-hundred day moving average price is $28.76. Embraer S.A. has a one year low of $12.48 and a one year high of $37.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66.

Embraer (NYSE:ERJ) last released its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.20. The business had revenue of $1.49 billion for 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%. Embraer’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Research analysts anticipate that Embraer S.A. will post 1.49 earnings per share for the current year.

About Embraer

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.