Embraer S.A. (NYSE:ERJ) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Embraer S.A. (NYSE:ERJ - Free Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 415,150 shares of the aerospace company's stock after selling 16,289 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.23% of Embraer worth $15,729,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in shares of Embraer by 102.1% during the 3rd quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company's stock worth $47,100,000 after purchasing an additional 672,644 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Embraer during the 4th quarter worth $42,313,000. Itau Unibanco Holding S.A. raised its stake in Embraer by 54.8% in the third quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company's stock valued at $39,343,000 after buying an additional 393,696 shares during the last quarter. State Street Corp raised its stake in Embraer by 1.3% in the third quarter. State Street Corp now owns 368,662 shares of the aerospace company's stock valued at $13,040,000 after buying an additional 4,666 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in Embraer in the third quarter valued at about $10,767,000. 34.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on ERJ. Bank of America increased their price target on Embraer from $40.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. TD Cowen upgraded Embraer to a "strong-buy" rating in a research note on Thursday, December 19th. UBS Group cut Embraer from a "neutral" rating to a "sell" rating and increased their price target for the company from $29.00 to $32.00 in a research note on Tuesday, November 19th. Finally, StockNews.com upgraded Embraer from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Embraer has a consensus rating of "Moderate Buy" and an average price target of $40.50.

Embraer Stock Performance

Shares of NYSE:ERJ traded up $0.17 during trading on Wednesday, hitting $42.76. The stock had a trading volume of 972,746 shares, compared to its average volume of 1,168,651. Embraer S.A. has a 12-month low of $18.02 and a 12-month high of $46.10. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 15.72 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. The stock has a 50-day simple moving average of $39.22 and a two-hundred day simple moving average of $36.39.

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.