State of New Jersey Common Pension Fund D Buys Shares of 58,795 Embraer S.A. (NYSE:ERJ)

State of New Jersey Common Pension Fund D purchased a new position in shares of Embraer S.A. (NYSE:ERJ) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,795 shares of the aerospace company’s stock, valued at approximately $1,517,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ERJ. PNC Financial Services Group Inc. acquired a new position in Embraer during the fourth quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Embraer in the 2nd quarter worth approximately $44,000. Ashton Thomas Private Wealth LLC bought a new stake in Embraer during the second quarter worth approximately $55,000. Montag A & Associates Inc. grew its holdings in Embraer by 221.7% during the first 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 last quarter. Finally, Asset Dedication LLC bought a new position in shares of Embraer in the second quarter valued at approximately $71,000. Institutional investors own 34.65% of the company’s stock.

Embraer Stock Performance

Shares of Embraer stock opened at $36.52 on Thursday. Embraer S.A. has a 52-week low of $12.48 and a 52-week 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. The company’s fifty day moving average price is $32.34 and its two-hundred day moving average price is $28.76.

Embraer (NYSE:ERJ) last issued its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 15.6% on a year-over-year basis. Analysts anticipate that Embraer S.A. will post 1.49 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ERJ. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and upped their price objective for the stock from $26.00 to $41.00 in a report on Wednesday, September 4th. StockNews.com cut shares of Embraer from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Bank of America reiterated a “buy” rating and issued a $40.00 price objective on shares of Embraer in a research note on Tuesday, September 17th. Finally, UBS Group increased 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

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.