Embraer S.A. (NYSE:ERJ) Stock Position Lowered by DnB Asset Management AS

DnB Asset Management AS reduced its position in shares of Embraer S.A. (NYSE:ERJ) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,163 shares of the aerospace company’s stock after selling 102,209 shares during the quarter. DnB Asset Management AS owned 0.29% of Embraer worth $19,787,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ERJ. Thrivent Financial for Lutherans acquired a new position in Embraer during the third quarter valued at $981,000. Citigroup Inc. increased its holdings in shares of Embraer by 2.9% in the 3rd quarter. Citigroup Inc. now owns 117,605 shares of the aerospace company’s stock valued at $4,160,000 after purchasing an additional 3,354 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Embraer by 72.2% in the third quarter. Daiwa Securities Group Inc. now owns 31,000 shares of the aerospace company’s stock worth $1,096,000 after purchasing an additional 13,000 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Embraer by 1.2% in the third quarter. Townsquare Capital LLC now owns 26,007 shares of the aerospace company’s stock worth $920,000 after purchasing an additional 310 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Embraer during the third quarter worth approximately $10,611,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Wall Street Analysts Forecast Growth

ERJ has been the subject of a number of research reports. StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. TD Cowen upgraded Embraer to a “strong-buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group raised their price target on Embraer from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Wolfe Research reissued a “peer perform” rating on shares of Embraer in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Embraer Price Performance

Shares of NYSE:ERJ opened at $46.26 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.56 and a quick ratio of 0.76. The stock has a market capitalization of $8.50 billion, a P/E ratio of 17.01 and a beta of 1.70. The business has a 50-day moving average of $45.77 and a two-hundred day moving average of $39.54. Embraer S.A. has a fifty-two week low of $23.42 and a fifty-two week high of $56.61.

Embraer (NYSE:ERJ) last announced its quarterly earnings results on Thursday, February 27th. The aerospace company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.47 by $0.47. Embraer had a return on equity of 11.61% and a net margin of 8.24%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.21 billion. On average, equities research analysts predict that Embraer S.A. will post 2.04 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.