Allspring Global Investments Holdings LLC Sells 34,823 Shares of Embraer S.A. (NYSE:ERJ)

Allspring Global Investments Holdings LLC lessened its holdings in Embraer S.A. (NYSE:ERJ) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 738,562 shares of the aerospace company’s stock after selling 34,823 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Embraer were worth $13,626,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ERJ. Advisors Preferred LLC acquired a new position in Embraer in the fourth quarter worth about $28,000. Blue Trust Inc. grew its stake in shares of Embraer by 189.6% in the 4th quarter. Blue Trust Inc. now owns 2,563 shares of the aerospace company’s stock valued at $47,000 after purchasing an additional 1,678 shares during the period. Ritholtz Wealth Management raised its holdings in shares of Embraer by 21.7% in the 4th quarter. Ritholtz Wealth Management now owns 14,851 shares of the aerospace company’s stock worth $274,000 after buying an additional 2,645 shares in the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Embraer during the 4th quarter worth approximately $47,000. Finally, Dfpg Investments LLC boosted its stake in Embraer by 8.0% in the 4th quarter. Dfpg Investments LLC now owns 30,969 shares of the aerospace company’s stock valued at $542,000 after buying an additional 2,284 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and set a $28.50 price objective (up from $21.00) on shares of Embraer in a research note on Tuesday, March 26th. JPMorgan Chase & Co. increased their target price on shares of Embraer from $21.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. The Goldman Sachs Group lifted their price target on shares of Embraer from $21.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Morgan Stanley upped their price objective on shares of Embraer from $19.50 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Finally, StockNews.com upgraded shares of Embraer from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.75.

Embraer Stock Performance

Shares of NYSE:ERJ opened at $24.15 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.65 and a quick ratio of 0.93. Embraer S.A. has a 12 month low of $12.48 and a 12 month high of $27.25. The company’s 50-day moving average price is $22.16 and its two-hundred day moving average price is $18.54.

Embraer (NYSE:ERJ) last announced its earnings results on Monday, March 18th. The aerospace company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.15. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.21 billion. Embraer had a net margin of 3.11% and a return on equity of 2.80%. On average, sell-side analysts predict that Embraer S.A. will post 1.36 EPS for the current year.

Embraer 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.