SPX Gestao de Recursos Ltda Sells 287,264 Shares of Embraer S.A. (NYSE:ERJ)

SPX Gestao de Recursos Ltda decreased its position in shares of Embraer S.A. (NYSE:ERJ - Free Report) by 30.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 661,828 shares of the aerospace company's stock after selling 287,264 shares during the quarter. Embraer accounts for approximately 2.5% of SPX Gestao de Recursos Ltda's portfolio, making the stock its 9th largest holding. SPX Gestao de Recursos Ltda owned 0.36% of Embraer worth $17,075,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in shares of Embraer in the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. purchased a new stake in Embraer in the 2nd quarter worth $41,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Embraer during the second quarter worth $44,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Embraer in the second quarter valued at about $55,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Embraer by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company's stock valued at $59,000 after purchasing an additional 456 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

Embraer Trading Down 1.4 %

Shares of ERJ traded down $0.51 during midday trading on Tuesday, reaching $34.86. The company had a trading volume of 1,270,780 shares, compared to its average volume of 1,669,363. The firm has a 50 day simple moving average of $32.86 and a 200-day simple moving average of $29.19. The company has a quick ratio of 0.66, a current ratio of 1.50 and a debt-to-equity ratio of 0.81. The stock has a market cap of $6.40 billion, a PE ratio of 24.21 and a beta of 1.69. Embraer S.A. has a 1-year low of $12.48 and a 1-year high of $37.30.

Embraer (NYSE:ERJ - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The business had revenue of $1.49 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the company posted $0.32 EPS. The business's revenue for the quarter was up 15.6% on a year-over-year basis. Research analysts forecast that Embraer S.A. will post 1.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Embraer from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. UBS Group lifted their price target on Embraer from $28.50 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 3rd. TD Cowen raised Embraer from a "hold" rating to a "buy" rating and increased their price objective for the company from $26.00 to $41.00 in a research note on Wednesday, September 4th. Finally, Bank of America reaffirmed a "buy" rating and set a $40.00 target price on shares of Embraer in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

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.