CastleKnight Management LP Cuts Position in Embraer S.A. (NYSE:ERJ)

CastleKnight Management LP lowered its position in shares of Embraer S.A. (NYSE:ERJ - Free Report) by 78.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,500 shares of the aerospace company's stock after selling 84,900 shares during the period. CastleKnight Management LP's holdings in Embraer were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in shares of Embraer by 17,140.6% during the 4th quarter. Invesco Ltd. now owns 1,235,635 shares of the aerospace company's stock valued at $45,323,000 after acquiring an additional 1,228,468 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Embraer in the 4th quarter valued at about $42,313,000. Carrhae Capital LLP lifted its stake in shares of Embraer by 48.1% in the 4th quarter. Carrhae Capital LLP now owns 2,670,740 shares of the aerospace company's stock valued at $97,963,000 after purchasing an additional 866,919 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Embraer by 959.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 824,607 shares of the aerospace company's stock worth $30,247,000 after buying an additional 746,758 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Embraer during the 4th quarter worth approximately $25,024,000. Institutional investors own 34.65% of the company's stock.

Embraer Stock Performance

Shares of NYSE ERJ traded down $0.61 during midday trading on Monday, hitting $47.60. 542,595 shares of the stock traded hands, compared to its average volume of 1,724,421. Embraer S.A. has a one year low of $25.24 and a one year high of $56.61. The firm has a 50-day moving average of $46.84 and a two-hundred day moving average of $41.73. The firm has a market capitalization of $8.74 billion, a P/E ratio of 17.50 and a beta of 1.67. 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 (NYSE:ERJ - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.21 by $0.19. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.17 billion. Embraer had a return on equity of 11.61% and a net margin of 8.24%. The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. On average, equities analysts forecast that Embraer S.A. will post 2.04 EPS for the current fiscal year.

Embraer Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Monday, June 2nd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.049 per share. The ex-dividend date of this dividend is Friday, May 16th. Embraer's payout ratio is currently 1.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ERJ. StockNews.com lowered Embraer from a "buy" rating to a "hold" rating in a report on Monday, March 10th. UBS Group reiterated a "sell" rating and issued a $39.00 price target (up from $35.00) on shares of Embraer in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their price target on Embraer from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, Wolfe Research reissued a "peer perform" rating on shares of Embraer in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.25.

Embraer Company 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.