Millennium Management LLC lowered its stake in Embraer S.A. (NYSE:ERJ – Free Report) 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.
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.
Read Our Latest Stock Report on Embraer
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.
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