Renaissance Technologies LLC Increases Stake in Embraer S.A. (NYSE:ERJ)

Renaissance Technologies LLC increased its position in shares of Embraer S.A. (NYSE:ERJ) by 13.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,648,800 shares of the aerospace company’s stock after purchasing an additional 197,600 shares during the period. Renaissance Technologies LLC owned approximately 0.90% of Embraer worth $42,539,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Embraer by 6.4% in the second quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock worth $59,450,000 after purchasing an additional 137,695 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Embraer by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock valued at $21,249,000 after acquiring an additional 59,084 shares during the period. Perpetual Ltd grew its position in Embraer by 88.4% in the 1st quarter. Perpetual Ltd now owns 623,645 shares of the aerospace company’s stock valued at $16,614,000 after acquiring an additional 292,630 shares during the last quarter. Nicholas Investment Partners LP grew its position in Embraer by 424.7% in the 2nd quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock valued at $13,584,000 after acquiring an additional 426,153 shares during the last quarter. Finally, AGF Management Ltd. increased its stake in Embraer by 6.6% in the second quarter. AGF Management Ltd. now owns 497,425 shares of the aerospace company’s stock worth $12,834,000 after purchasing an additional 30,844 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Embraer from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and raised their target price for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and issued a $40.00 price target on shares of Embraer in a report on Tuesday. Finally, UBS Group raised their price objective on Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Embraer currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Embraer Price Performance

NYSE:ERJ opened at $34.81 on Thursday. Embraer S.A. has a one year low of $12.48 and a one year high of $37.26. The stock has a market cap of $6.39 billion, a PE ratio of 24.17 and a beta of 1.69. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. The stock has a 50 day moving average price of $31.62 and a 200 day moving average price of $28.22.

Embraer (NYSE:ERJ) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts expect that Embraer S.A. will post 1.49 EPS for the current fiscal year.

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.