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

Principal Financial Group Inc. decreased its stake in shares of Embraer S.A. (NYSE:ERJ) by 32.4% during the 3rd quarter, Holdings Channel reports. 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.’s holdings in Embraer were worth $5,966,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Embraer in the second quarter worth about $349,000. Commonwealth Equity Services LLC lifted its holdings in shares of Embraer by 1.8% in the second quarter. Commonwealth Equity Services LLC now owns 22,209 shares of the aerospace company’s stock valued at $573,000 after purchasing an additional 390 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Embraer by 17.6% in the 2nd quarter. Ritholtz Wealth Management now owns 35,493 shares of the aerospace company’s stock valued at $916,000 after acquiring an additional 5,315 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Embraer in the second quarter worth $5,065,000. Finally, Asset Dedication LLC bought a new position in shares of Embraer in the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 34.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ERJ shares. Bank of America upped their price target on shares of Embraer from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. TD Cowen raised Embraer to a “strong-buy” rating in a report on Thursday, December 19th. StockNews.com raised Embraer from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Finally, UBS Group cut shares of Embraer from a “neutral” rating to a “sell” rating and boosted their target price for the company from $29.00 to $32.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.43.

Embraer Price Performance

Shares of ERJ opened at $36.68 on Thursday. The business has a 50-day simple moving average of $36.78 and a two-hundred day simple moving average of $33.41. Embraer S.A. has a 12-month low of $16.88 and a 12-month high of $40.34. 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 market cap of $6.74 billion, a PE ratio of 13.49 and a beta of 1.72.

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.