TimesSquare Capital Management LLC Cuts Stake in Embraer S.A. (NYSE:ERJ)

TimesSquare Capital Management LLC reduced its stake in shares of Embraer S.A. (NYSE:ERJ - Free Report) by 16.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 662,155 shares of the aerospace company's stock after selling 131,100 shares during the quarter. TimesSquare Capital Management LLC's holdings in Embraer were worth $23,420,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new stake in shares of Embraer in the 2nd quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Embraer in the 2nd quarter worth about $44,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Embraer in the 2nd quarter worth about $55,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Embraer by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company's stock worth $59,000 after buying an additional 456 shares during the period. Finally, Montag A & Associates Inc. grew its position in shares of Embraer by 221.7% in the 1st quarter. Montag A & Associates Inc. now owns 2,628 shares of the aerospace company's stock worth $70,000 after buying an additional 1,811 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

Embraer Stock Performance

ERJ traded up $1.40 during midday trading on Monday, hitting $38.83. 1,991,797 shares of the company traded hands, compared to its average volume of 1,621,313. The company's 50-day moving average is $34.74 and its 200 day moving average is $31.03. Embraer S.A. has a 52 week low of $15.40 and a 52 week high of $38.90. 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 (NYSE:ERJ - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The aerospace company reported $0.44 earnings per share for the quarter, topping 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 firm 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 quarterly revenue was up 15.6% on a year-over-year basis. Sell-side analysts predict that Embraer S.A. will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ERJ shares. TD Cowen raised shares of 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 report on Wednesday, September 4th. StockNews.com downgraded shares of Embraer from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Finally, Bank of America reissued a "buy" rating and set a $40.00 price objective on shares of Embraer in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $34.86.

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.