Millennium Management LLC Buys 1,152,121 Shares of Embraer SA (NYSE:ERJ)

Millennium Management LLC grew its stake in Embraer SA (NYSE:ERJ) by 616.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,338,889 shares of the aerospace company’s stock after purchasing an additional 1,152,121 shares during the period. Millennium Management LLC owned about 0.73% of Embraer worth $23,095,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Stevens Capital Management LP raised its position in shares of Embraer by 17.4% during the second quarter. Stevens Capital Management LP now owns 23,950 shares of the aerospace company’s stock valued at $482,000 after buying an additional 3,542 shares during the last quarter. Aperio Group LLC increased its stake in Embraer by 82.0% during the second quarter. Aperio Group LLC now owns 82,590 shares of the aerospace company’s stock valued at $1,663,000 after acquiring an additional 37,217 shares during the period. Atria Investments LLC acquired a new position in Embraer in the 2nd quarter valued at approximately $3,344,000. Congress Park Capital LLC raised its holdings in Embraer by 76.6% in the 2nd quarter. Congress Park Capital LLC now owns 133,075 shares of the aerospace company’s stock valued at $2,743,000 after acquiring an additional 57,700 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its position in shares of Embraer by 0.5% in the 2nd quarter. Brandes Investment Partners LP now owns 20,024,471 shares of the aerospace company’s stock worth $407,221,000 after acquiring an additional 92,637 shares during the period. Institutional investors own 44.80% of the company’s stock.

Several analysts have recently weighed in on ERJ shares. Zacks Investment Research lowered Embraer from a “strong-buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a report on Wednesday, October 16th. Cowen reaffirmed a “hold” rating and issued a $22.00 target price on shares of Embraer in a research report on Tuesday, November 12th. William Blair reiterated a “market perform” rating on shares of Embraer in a research note on Wednesday, August 14th. Finally, UBS Group reiterated a “buy” rating and set a $21.00 price target (down previously from $23.00) on shares of Embraer in a research note on Thursday, November 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Embraer presently has an average rating of “Hold” and an average target price of $22.70.

NYSE ERJ opened at $17.50 on Tuesday. Embraer SA has a twelve month low of $15.86 and a twelve month high of $23.68. The company has a quick ratio of 1.14, a current ratio of 2.10 and a debt-to-equity ratio of 0.87. The stock has a market cap of $3.12 billion, a P/E ratio of -58.33 and a beta of -0.09. The company’s 50-day simple moving average is $17.18 and its 200 day simple moving average is $18.48.

Embraer (NYSE:ERJ) last announced its quarterly earnings results on Tuesday, November 12th. The aerospace company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.32 billion. Embraer had a negative return on equity of 3.36% and a negative net margin of 2.59%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. Research analysts anticipate that Embraer SA will post -0.83 earnings per share for the current year.

Embraer Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in Brazil, North America, Latin America, the Asia Pacific, Europe, and internationally. It operates through Commercial Aviation, Defense and Security, Executive Jets, Service & Support, and Other segments. The Commercial Aviation segment develops, produces, and sells commercial jets; and provides support services, as well as leases aircraft.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

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Institutional Ownership by Quarter for Embraer (NYSE:ERJ)

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