Mirae Asset Global Investments Co. Ltd. Decreases Stake in Embraer S.A. (NYSE:ERJ)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Embraer S.A. (NYSE:ERJ) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,686 shares of the aerospace company’s stock after selling 682 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Embraer were worth $2,743,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ERJ. Advisors Preferred LLC acquired a new stake in shares of Embraer in the fourth quarter worth $28,000. Allworth Financial LP purchased a new position in Embraer in the third quarter valued at about $26,000. Blue Trust Inc. lifted its stake in shares of Embraer by 189.6% during the fourth quarter. Blue Trust Inc. now owns 2,563 shares of the aerospace company’s stock worth $47,000 after purchasing an additional 1,678 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Embraer in the fourth quarter worth about $47,000. Finally, Eagle Bay Advisors LLC acquired a new stake in shares of Embraer in the second quarter valued at about $27,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Embraer Trading Down 0.7 %

Shares of NYSE ERJ opened at $24.23 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.93 and a current ratio of 1.65. The stock’s 50 day moving average price is $22.57 and its two-hundred day moving average price is $18.69. Embraer S.A. has a 52-week low of $12.48 and a 52-week high of $27.25.

Embraer (NYSE:ERJ) last posted its quarterly earnings results on Monday, March 18th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.15. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.21 billion. Embraer had a return on equity of 2.80% and a net margin of 3.11%. As a group, equities research analysts predict that Embraer S.A. will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ERJ shares. HSBC cut Embraer from a “buy” rating to a “hold” rating and upped their price target for the stock from $18.00 to $19.00 in a report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Embraer from $21.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. UBS Group reissued a “neutral” rating and issued a $28.50 price objective (up from $21.00) on shares of Embraer in a research report on Tuesday, March 26th. StockNews.com upgraded Embraer from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Finally, Morgan Stanley raised their price objective on Embraer from $19.50 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.75.

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.