Bank of Montreal Can Trims Position in Embraer S.A. (NYSE:ERJ)

Bank of Montreal Can reduced its stake in Embraer S.A. (NYSE:ERJ - Free Report) by 24.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,266 shares of the aerospace company's stock after selling 29,494 shares during the period. Bank of Montreal Can owned 0.05% of Embraer worth $2,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ERJ. Nicholas Investment Partners LP raised its position in shares of Embraer by 424.7% in the 2nd quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company's stock worth $13,584,000 after acquiring an additional 426,153 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Embraer in the first quarter worth $10,754,000. Jennison Associates LLC purchased a new position in Embraer during the first quarter valued at $9,818,000. Perpetual Ltd boosted its holdings in shares of Embraer by 88.4% during the 1st quarter. Perpetual Ltd now owns 623,645 shares of the aerospace company's stock valued at $16,614,000 after buying an additional 292,630 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Embraer in the 1st quarter worth about $5,668,000. 34.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ERJ. UBS Group upped their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, July 3rd. Bank of America reaffirmed a "buy" rating and set a $40.00 price objective on shares of Embraer in a research report on Tuesday, September 17th. StockNews.com downgraded Embraer from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, TD Cowen upgraded Embraer from a "hold" rating to a "buy" rating and raised their price target for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.50.

Embraer Stock Performance

Shares of NYSE:ERJ traded up $0.62 during midday trading on Friday, reaching $33.92. 1,118,378 shares of the company's stock traded hands, compared to its average volume of 1,665,175. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.50. Embraer S.A. has a one year low of $12.48 and a one year high of $37.30. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 23.56 and a beta of 1.69. The stock has a 50 day moving average of $33.06 and a 200 day moving average of $29.26.

Embraer (NYSE:ERJ - Get Free Report) last posted its earnings results on Thursday, August 8th. The aerospace company reported $0.44 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business's revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Embraer S.A. will post 1.49 EPS for the current fiscal year.

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.