SPX Gestao de Recursos Ltda Reduces Stock Position in Embraer S.A. (NYSE:ERJ)

SPX Gestao de Recursos Ltda trimmed its stake in shares of Embraer S.A. (NYSE:ERJ) by 30.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,828 shares of the aerospace company’s stock after selling 287,264 shares during the quarter. Embraer comprises approximately 2.5% of SPX Gestao de Recursos Ltda’s investment portfolio, making the stock its 9th biggest position. SPX Gestao de Recursos Ltda owned about 0.36% of Embraer worth $17,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its holdings in Embraer by 0.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 63,435 shares of the aerospace company’s stock worth $1,637,000 after purchasing an additional 385 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Embraer by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 22,209 shares of the aerospace company’s stock valued at $573,000 after acquiring an additional 390 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Embraer by 6.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 10,724 shares of the aerospace company’s stock worth $277,000 after acquiring an additional 652 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in Embraer by 2.6% during the first quarter. Orion Portfolio Solutions LLC now owns 44,535 shares of the aerospace company’s stock worth $1,186,000 after acquiring an additional 1,139 shares during the period. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. UBS Group raised their target price on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. TD Cowen raised Embraer from a “hold” rating to a “buy” rating and lifted their price objective for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. Bank of America reissued a “buy” rating and set a $40.00 target price on shares of Embraer in a report on Tuesday, September 17th. Finally, StockNews.com downgraded Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Embraer presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Embraer Price Performance

Shares of ERJ stock opened at $35.37 on Tuesday. Embraer S.A. has a twelve month low of $12.48 and a twelve month high of $37.30. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $32.76 and a 200 day simple moving average of $29.11. The company has a market cap of $6.50 billion, a P/E ratio of 24.56 and a beta of 1.69.

Embraer (NYSE:ERJ) last posted its earnings results 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 analysts’ expectations of $1.44 billion. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, sell-side analysts forecast that Embraer S.A. will post 1.49 EPS for the current fiscal year.

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.