Legacy Wealth Asset Management LLC Trims Stake in Embraer S.A. (NYSE:ERJ)

Legacy Wealth Asset Management LLC lessened its holdings in shares of Embraer S.A. (NYSE:ERJ) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,925 shares of the aerospace company’s stock after selling 577 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Embraer were worth $904,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Ramirez Asset Management Inc. purchased a new stake in Embraer in the 3rd quarter valued at about $4,137,000. Perpetual Ltd boosted its holdings in shares of Embraer by 88.4% in the first 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 during the period. Banco BTG Pactual S.A. purchased a new stake in Embraer in the fourth quarter worth about $4,662,000. Envestnet Asset Management Inc. grew its holdings in Embraer by 74.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 298,070 shares of the aerospace company’s stock worth $4,090,000 after acquiring an additional 127,675 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Embraer during the 4th quarter valued at about $1,879,000. Institutional investors own 34.65% of the company’s stock.

Embraer Price Performance

Shares of Embraer stock opened at $26.92 on Friday. The company has a 50 day moving average price of $27.82 and a 200 day moving average price of $23.23. The company has a quick ratio of 0.71, a current ratio of 1.51 and a debt-to-equity ratio of 0.83. Embraer S.A. has a 52 week low of $12.48 and a 52 week high of $31.12.

Embraer (NYSE:ERJ) last posted its quarterly earnings results on Tuesday, May 7th. The aerospace company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.05. Embraer had a net margin of 4.84% and a return on equity of 5.35%. The business had revenue of $896.60 million during the quarter, compared to analysts’ expectations of $883.92 million. As a group, equities research analysts predict that Embraer S.A. will post 1.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ERJ has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Embraer from $19.50 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. upped their price objective on Embraer from $21.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. The Goldman Sachs Group lifted their target price on Embraer from $21.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. StockNews.com raised shares of Embraer from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. Finally, UBS Group lifted their price objective on shares of Embraer from $28.50 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.83.

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.