Principal Financial Group Inc. Lowers Holdings in Embraer S.A. (NYSE:ERJ)

Principal Financial Group Inc. decreased its position in shares of Embraer S.A. (NYSE:ERJ) by 32.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,664 shares of the aerospace company’s stock after selling 80,898 shares during the quarter. Principal Financial Group Inc. owned approximately 0.09% of Embraer worth $5,966,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ERJ. Sunbelt Securities Inc. purchased a new position in Embraer during the 2nd quarter valued at about $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Embraer during the second quarter valued at approximately $44,000. Ashton Thomas Private Wealth LLC purchased a new position in Embraer during the second quarter valued at approximately $55,000. Northwestern Mutual Wealth Management Co. raised its stake in Embraer by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,280 shares of the aerospace company’s stock worth $59,000 after buying an additional 456 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in Embraer during the second quarter worth $71,000. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Embraer Price Performance

Shares of ERJ stock opened at $37.51 on Thursday. Embraer S.A. has a fifty-two week low of $16.09 and a fifty-two week high of $39.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 1.56. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 13.79 and a beta of 1.70. The stock’s 50-day simple moving average is $35.26 and its 200-day simple moving average is $31.59.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen raised Embraer from a “hold” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $41.00 in a research report on Wednesday, September 4th. Bank of America reiterated a “buy” rating and issued a $40.00 target price on shares of Embraer in a report on Tuesday, September 17th. Finally, UBS Group cut shares of Embraer from a “neutral” rating to a “sell” rating and raised their price target for the company from $29.00 to $32.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.29.

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.