Ninety One North America Inc. Raises Stock Position in Embraer S.A. (NYSE:ERJ)

Ninety One North America Inc. lifted its position in Embraer S.A. (NYSE:ERJ) by 14.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 84,451 shares of the aerospace company’s stock after buying an additional 10,665 shares during the quarter. Ninety One North America Inc.’s holdings in Embraer were worth $3,098,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ERJ. Artemis Investment Management LLP purchased a new stake in Embraer during the 3rd quarter worth approximately $30,358,000. Jennison Associates LLC boosted its holdings in shares of Embraer by 102.1% in the 3rd quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock valued at $47,100,000 after acquiring an additional 672,644 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Embraer by 54.8% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company’s stock valued at $39,343,000 after acquiring an additional 393,696 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Embraer in the 3rd quarter valued at $10,767,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Embraer in the 3rd quarter valued at $10,611,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Embraer Price Performance

Shares of NYSE ERJ opened at $40.48 on Tuesday. The firm has a 50-day simple moving average of $38.10 and a 200-day simple moving average of $35.32. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 14.90 and a beta of 1.71. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74. Embraer S.A. has a 52 week low of $17.19 and a 52 week high of $41.90.

Embraer (NYSE:ERJ) last issued its earnings results on Friday, November 8th. The aerospace company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.92. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Embraer had a net margin of 8.24% and a return on equity of 11.61%. During the same period in the prior year, the business earned $0.18 earnings per share. On average, equities analysts predict that Embraer S.A. will post 2.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.