Bank of America Corp DE grew its holdings in shares of Embraer S.A. (NYSE:ERJ – Get Rating) by 152.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,957,356 shares of the aerospace company's stock after acquiring an additional 1,785,803 shares during the quarter. Bank of America Corp DE's holdings in Embraer were worth $37,292,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Verition Fund Management LLC lifted its position in Embraer by 153.3% in the 1st quarter. Verition Fund Management LLC now owns 759,958 shares of the aerospace company's stock worth $9,583,000 after buying an additional 459,958 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Embraer by 253.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,975 shares of the aerospace company's stock worth $718,000 after buying an additional 40,838 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Embraer by 302.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 392,242 shares of the aerospace company's stock worth $4,946,000 after buying an additional 294,759 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Embraer in the 1st quarter worth approximately $60,000. Finally, Royal Bank of Canada lifted its position in Embraer by 5.8% in the 1st quarter. Royal Bank of Canada now owns 398,035 shares of the aerospace company's stock worth $5,018,000 after buying an additional 21,650 shares during the last quarter. Institutional investors own 37.57% of the company's stock.
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Wall Street Analyst Weigh In
A number of research firms recently weighed in on ERJ. StockNews.com downgraded Embraer from a "buy" rating to a "hold" rating in a research report on Wednesday, August 31st. TheStreet raised Embraer from a "d+" rating to a "c" rating in a research note on Thursday, September 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Embraer presently has an average rating of "Hold" and a consensus target price of $20.00.
Embraer Price Performance
ERJ opened at $8.60 on Friday. The company has a current ratio of 2.03, a quick ratio of 1.13 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -860.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.10. The stock has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $10.48. Embraer S.A. has a 12-month low of $7.91 and a 12-month high of $19.40.
Embraer (NYSE:ERJ – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.26. Embraer had a negative net margin of 0.01% and a negative return on equity of 0.56%. The company had revenue of $1.02 billion during the quarter. Research analysts predict that Embraer S.A. will post 0.54 earnings per share for the current fiscal year.
About Embraer
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Embraer SA designs, develops, manufactures, and sells aircrafts and systems in Brazil, North America, Latin America, the Asia Pacific, Brazil, Europe, and internationally. It operates through Commercial Aviation; Defense and Security; Executive Jets; Service & Support; and Other segments. The Commercial Aviation segment designs, develops, and manufactures a variety of commercial aircrafts.
Further Reading
- Get a free copy of the StockNews.com research report on Embraer (ERJ)
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