Legacy Wealth Asset Management LLC Sells 2,693 Shares of Embraer S.A. (NYSE:ERJ)

Legacy Wealth Asset Management LLC lowered its stake in Embraer S.A. (NYSE:ERJ) by 8.6% in the fourth quarter, Holdings Channel reports. The fund owned 28,638 shares of the aerospace company’s stock after selling 2,693 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Embraer were worth $1,050,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC grew its holdings in shares of Embraer by 164.4% during the third quarter. Virtu Financial LLC now owns 37,082 shares of the aerospace company’s stock worth $1,312,000 after purchasing an additional 23,056 shares during the last quarter. Dorsey Wright & Associates boosted its position in Embraer by 13.5% during the 3rd quarter. Dorsey Wright & Associates now owns 146,873 shares of the aerospace company’s stock worth $5,195,000 after buying an additional 17,484 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Embraer by 2.9% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 44,174 shares of the aerospace company’s stock worth $1,562,000 after acquiring an additional 1,241 shares during the last quarter. XTX Topco Ltd acquired a new position in Embraer in the 3rd quarter valued at approximately $1,203,000. Finally, State Street Corp raised its stake in shares of Embraer by 1.3% during the third quarter. State Street Corp now owns 368,662 shares of the aerospace company’s stock valued at $13,040,000 after acquiring an additional 4,666 shares during the last quarter. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group downgraded Embraer from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $29.00 to $32.00 in a report on Tuesday, November 19th. TD Cowen raised Embraer to a “strong-buy” rating in a research note on Thursday, December 19th. Bank of America increased their target price on shares of Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded shares of Embraer from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.43.

Embraer Stock Performance

ERJ opened at $39.67 on Friday. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 14.58 and a beta of 1.71. The company’s fifty day moving average price is $37.45 and its two-hundred day moving average price is $34.14. Embraer S.A. has a 1-year low of $16.89 and a 1-year high of $40.34. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

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.