Raymond James Financial Inc. Acquires Shares of 66,863 Embraer S.A. (NYSE:ERJ)

Raymond James Financial Inc. bought a new position in shares of Embraer S.A. (NYSE:ERJ) during the fourth quarter, Holdings Channel reports. The firm bought 66,863 shares of the aerospace company’s stock, valued at approximately $2,453,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ERJ. Ballentine Partners LLC raised its position in Embraer by 4.0% in the fourth quarter. Ballentine Partners LLC now owns 7,614 shares of the aerospace company’s stock worth $279,000 after acquiring an additional 296 shares during the period. Townsquare Capital LLC increased its stake in shares of Embraer by 1.2% during the 3rd quarter. Townsquare Capital LLC now owns 26,007 shares of the aerospace company’s stock worth $920,000 after purchasing an additional 310 shares during the last quarter. LVW Advisors LLC raised its holdings in shares of Embraer by 3.3% in the 4th quarter. LVW Advisors LLC now owns 10,660 shares of the aerospace company’s stock worth $391,000 after purchasing an additional 340 shares during the period. US Bancorp DE lifted its stake in Embraer by 13.4% in the fourth quarter. US Bancorp DE now owns 3,336 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 395 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in Embraer by 8.1% in the fourth quarter. Truist Financial Corp now owns 6,298 shares of the aerospace company’s stock valued at $231,000 after purchasing an additional 470 shares during the last quarter. 34.65% of the stock is owned by hedge funds and other institutional investors.

Embraer Stock Performance

NYSE:ERJ opened at $46.26 on Friday. The business’s fifty day moving average is $45.77 and its 200 day moving average is $39.58. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 17.01 and a beta of 1.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 1.56. Embraer S.A. has a 52-week low of $23.42 and a 52-week high of $56.61.

Embraer (NYSE:ERJ) last announced its quarterly earnings results on Thursday, February 27th. The aerospace company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.47. Embraer had a return on equity of 11.61% and a net margin of 8.24%. The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Research analysts predict that Embraer S.A. will post 2.04 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on ERJ. StockNews.com downgraded Embraer from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. The Goldman Sachs Group lifted their price objective on Embraer from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. TD Cowen raised shares of Embraer to a “strong-buy” rating in a report on Thursday, December 19th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Embraer in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.50.

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.