Principal Financial Group Inc. Has $5.97 Million Position in Embraer S.A. (NYSE:ERJ)

Principal Financial Group Inc. reduced its position in shares of Embraer S.A. (NYSE:ERJ - Free Report) by 32.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,664 shares of the aerospace company's stock after selling 80,898 shares during the period. Principal Financial Group Inc. owned about 0.09% of Embraer worth $5,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ERJ. American Century Companies Inc. grew its stake in shares of Embraer by 6.4% in the second quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company's stock worth $59,450,000 after purchasing an additional 137,695 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Embraer by 13.6% in the second quarter. Renaissance Technologies LLC now owns 1,648,800 shares of the aerospace company's stock worth $42,539,000 after purchasing an additional 197,600 shares in the last quarter. Driehaus Capital Management LLC grew its stake in shares of Embraer by 102.5% in the second quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company's stock worth $37,141,000 after purchasing an additional 728,592 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Embraer in the third quarter worth $30,358,000. Finally, Marshall Wace LLP grew its stake in shares of Embraer by 76.5% in the second quarter. Marshall Wace LLP now owns 712,112 shares of the aerospace company's stock worth $18,372,000 after purchasing an additional 308,729 shares in the last quarter. 34.65% of the stock is owned by institutional investors and hedge funds.

Embraer Stock Performance

Shares of Embraer stock opened at $37.51 on Thursday. Embraer S.A. has a 12-month low of $16.09 and a 12-month high of $39.46. 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 moving average price of $35.26 and a two-hundred day moving average price of $31.59.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ERJ. TD Cowen raised Embraer from a "hold" rating to a "buy" rating and raised their target price for the company from $26.00 to $41.00 in a research note on Wednesday, September 4th. UBS Group cut Embraer from a "neutral" rating to a "sell" rating and raised their target price for the company from $29.00 to $32.00 in a research note on Tuesday. 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.29.

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.