Millennium Management LLC Has $12.77 Million Stake in Embraer S.A. (NYSE:ERJ)

Millennium Management LLC decreased its holdings in Embraer S.A. (NYSE:ERJ - Free Report) by 58.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 494,768 shares of the aerospace company's stock after selling 698,541 shares during the quarter. Millennium Management LLC owned 0.27% of Embraer worth $12,765,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new position in Embraer during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Embraer during the 2nd quarter worth approximately $44,000. Ashton Thomas Private Wealth LLC purchased a new position in Embraer during the 2nd quarter worth approximately $55,000. Montag A & Associates Inc. grew its position in Embraer by 221.7% during the 1st quarter. Montag A & Associates Inc. now owns 2,628 shares of the aerospace company's stock worth $70,000 after purchasing an additional 1,811 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in Embraer during the 2nd quarter worth approximately $71,000. Institutional investors and hedge funds own 34.65% of the company's stock.

Embraer Stock Down 0.6 %

Shares of ERJ stock traded down $0.20 on Tuesday, hitting $33.59. The company's stock had a trading volume of 1,021,546 shares, compared to its average volume of 1,660,627. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 0.66. Embraer S.A. has a fifty-two week low of $12.76 and a fifty-two week high of $37.30. The firm's fifty day moving average price is $33.30 and its 200-day moving average price is $29.50. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 23.33 and a beta of 1.69.

Embraer (NYSE:ERJ - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned $0.32 EPS. Embraer's quarterly revenue was up 15.6% compared to the same quarter last year. Research analysts anticipate that Embraer S.A. will post 1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ERJ shares. Bank of America reiterated a "buy" rating and set a $40.00 price objective on shares of Embraer in a research report on Tuesday, September 17th. StockNews.com cut shares of Embraer from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. TD Cowen upgraded shares of Embraer from a "hold" rating to a "buy" rating and boosted their price target for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. Finally, UBS Group boosted their price target on shares of Embraer from $28.50 to $29.00 and gave the company a "neutral" rating in a report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.