Oldfield Partners LLP Sells 322,485 Shares of Embraer S.A. (NYSE:ERJ)

Oldfield Partners LLP lessened its stake in shares of Embraer S.A. (NYSE:ERJ) by 36.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 558,318 shares of the aerospace company’s stock after selling 322,485 shares during the period. Embraer accounts for about 2.7% of Oldfield Partners LLP’s portfolio, making the stock its 8th largest position. Oldfield Partners LLP owned approximately 0.30% of Embraer worth $14,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in Embraer by 6.4% during the 2nd quarter. American Century Companies Inc. now owns 2,304,245 shares of the aerospace company’s stock valued at $59,450,000 after purchasing an additional 137,695 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Embraer by 8.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 797,646 shares of the aerospace company’s stock valued at $21,249,000 after purchasing an additional 59,084 shares in the last quarter. Perpetual Ltd increased its stake in 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 purchasing an additional 292,630 shares in the last quarter. Nicholas Investment Partners LP increased its stake in Embraer by 424.7% during the 2nd quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock valued at $13,584,000 after purchasing an additional 426,153 shares in the last quarter. Finally, AGF Management Ltd. increased its stake in Embraer by 6.6% during the 2nd quarter. AGF Management Ltd. now owns 497,425 shares of the aerospace company’s stock valued at $12,834,000 after purchasing an additional 30,844 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Embraer from $28.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. StockNews.com lowered shares of Embraer from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. UBS Group upped their target price on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Finally, TD Cowen upgraded shares of Embraer from a “hold” rating to a “buy” rating and upped their target price for the stock from $26.00 to $41.00 in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Embraer Price Performance

ERJ opened at $36.95 on Monday. The firm has a market cap of $6.79 billion, a P/E ratio of 25.66 and a beta of 1.69. The firm has a 50-day moving average of $31.32 and a 200 day moving average of $28.01. 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 fifty-two week low of $12.48 and a fifty-two week high of $37.26.

Embraer (NYSE:ERJ) 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. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.44 billion. Embraer had a net margin of 6.76% and a return on equity of 5.94%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, research analysts expect that Embraer S.A. will post 1.49 EPS for the current year.

Embraer Company Profile

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.