SPX Gestao de Recursos Ltda Has $17.08 Million Stock Position in Embraer S.A. (NYSE:ERJ)

SPX Gestao de Recursos Ltda trimmed its position in shares of Embraer S.A. (NYSE:ERJ) by 30.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 661,828 shares of the aerospace company’s stock after selling 287,264 shares during the quarter. Embraer makes up 2.5% of SPX Gestao de Recursos Ltda’s holdings, making the stock its 9th biggest holding. SPX Gestao de Recursos Ltda’s holdings in Embraer were worth $17,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. bought a new position in Embraer during the 4th quarter worth $30,000. Sunbelt Securities Inc. bought a new position in shares of Embraer during the second quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Embraer in the second quarter worth approximately $44,000. Ashton Thomas Private Wealth LLC bought a new stake in Embraer in the second quarter valued at approximately $55,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Embraer by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 456 shares during the last quarter. 34.65% of the stock is currently owned by institutional investors.

Embraer Trading Down 1.0 %

ERJ opened at $35.37 on Tuesday. The company has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $29.11. Embraer S.A. has a 1-year low of $12.48 and a 1-year high of $37.30. The company has a market cap of $6.50 billion, a P/E ratio of 24.56 and a beta of 1.69. The company has a current ratio of 1.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81.

Embraer (NYSE:ERJ) last issued its earnings results on Thursday, August 8th. The aerospace company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.20. The business 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 firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. Analysts predict that Embraer S.A. will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ERJ. Bank of America restated a “buy” rating and issued a $40.00 price target on shares of Embraer in a research report on Tuesday, September 17th. UBS Group boosted their target price on shares of Embraer from $28.50 to $29.00 and gave the company a “neutral” rating in a report 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 research report on Wednesday, September 4th. Finally, StockNews.com lowered Embraer from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

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.