Embraer S.A. (NYSE:ERJ) Stake Lowered by Channing Global Advisors LLC

Channing Global Advisors LLC trimmed its stake in Embraer S.A. (NYSE:ERJ - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,319 shares of the aerospace company's stock after selling 10,549 shares during the quarter. Embraer makes up 1.9% of Channing Global Advisors LLC's portfolio, making the stock its 17th biggest holding. Channing Global Advisors LLC's holdings in Embraer were worth $2,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. purchased a new stake in Embraer during the fourth quarter valued at about $42,313,000. Jennison Associates LLC lifted its stake in shares of Embraer by 102.1% during the third 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 in the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Embraer by 54.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,112,314 shares of the aerospace company's stock worth $39,343,000 after purchasing an additional 393,696 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of Embraer during the third quarter worth about $10,767,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Embraer during the third quarter worth about $10,611,000. Hedge funds and other institutional investors own 34.65% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group cut Embraer from a "neutral" rating to a "sell" rating and boosted their price target for the stock from $29.00 to $32.00 in a research note on Tuesday, November 19th. Bank of America upped their price objective 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. Finally, StockNews.com upgraded Embraer from a "hold" rating to a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Embraer currently has an average rating of "Moderate Buy" and a consensus target price of $40.50.

Embraer Stock Performance

Shares of NYSE:ERJ traded up $0.08 during trading on Friday, hitting $42.24. 1,372,580 shares of the company traded hands, compared to its average volume of 1,237,642. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 15.53 and a beta of 1.71. The business's fifty day moving average is $38.91 and its 200-day moving average is $36.07. Embraer S.A. has a one year low of $18.00 and a one year high of $46.10. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.

About Embraer

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.