Millennium Management LLC Has $12.77 Million Stock Position in Embraer S.A. (NYSE:ERJ)

Millennium Management LLC lowered its stake in Embraer S.A. (NYSE:ERJ) by 58.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 494,768 shares of the aerospace company’s stock after selling 698,541 shares during the quarter. Millennium Management LLC owned approximately 0.27% of Embraer worth $12,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in shares of Embraer during the fourth quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Embraer during the second quarter worth approximately $44,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Embraer during the second quarter worth approximately $55,000. Montag A & Associates Inc. boosted its holdings in shares of Embraer by 221.7% during the first quarter. Montag A & Associates Inc. now owns 2,628 shares of the aerospace company’s stock worth $70,000 after acquiring an additional 1,811 shares during the period. Finally, Asset Dedication LLC bought a new stake in shares of Embraer during the second quarter worth approximately $71,000. Institutional investors and hedge funds own 34.65% of the company’s stock.

Embraer Stock Performance

Shares of ERJ opened at $33.78 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $6.20 billion, a P/E ratio of 23.46 and a beta of 1.69. The firm’s fifty day simple moving average is $33.24 and its two-hundred day simple moving average is $29.45. Embraer S.A. has a 12 month low of $12.76 and a 12 month high of $37.30.

Embraer (NYSE:ERJ) last issued its quarterly 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 for 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 quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, analysts predict that Embraer S.A. will post 1.49 EPS for the current year.

Analyst Ratings Changes

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