Allspring Global Investments Holdings LLC Sells 130,679 Shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

Allspring Global Investments Holdings LLC trimmed its stake in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 31.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,471 shares of the aerospace company's stock after selling 130,679 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of Embraer-Empresa Brasileira de Aeronautica worth $13,182,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ERJ. Brighton Jones LLC bought a new position in shares of Embraer-Empresa Brasileira de Aeronautica during the 4th quarter valued at approximately $502,000. Truist Financial Corp boosted its stake in Embraer-Empresa Brasileira de Aeronautica by 8.1% during the fourth quarter. Truist Financial Corp now owns 6,298 shares of the aerospace company's stock worth $231,000 after buying an additional 470 shares during the period. QRG Capital Management Inc. bought a new position in Embraer-Empresa Brasileira de Aeronautica during the fourth quarter valued at $243,000. US Bancorp DE increased its position in Embraer-Empresa Brasileira de Aeronautica by 13.4% during the fourth quarter. US Bancorp DE now owns 3,336 shares of the aerospace company's stock valued at $122,000 after acquiring an additional 395 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at $28,000. 34.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on ERJ. The Goldman Sachs Group lifted their price target on shares of Embraer-Empresa Brasileira de Aeronautica from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Wall Street Zen lowered shares of Embraer-Empresa Brasileira de Aeronautica from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. HSBC upgraded Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and boosted their target price for the company from $45.00 to $57.00 in a research report on Wednesday, June 4th. UBS Group reiterated a "sell" rating and issued a $39.00 price target (up from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a report on Thursday, April 24th. Finally, Hsbc Global Res raised Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.40.

Embraer-Empresa Brasileira de Aeronautica Trading Up 3.3%

ERJ traded up $1.97 on Friday, reaching $61.34. 914,233 shares of the company traded hands, compared to its average volume of 1,490,571. The company has a market cap of $11.26 billion, a P/E ratio of 28.40 and a beta of 1.72. The company has a quick ratio of 0.59, a current ratio of 1.32 and a debt-to-equity ratio of 0.56. Embraer-Empresa Brasileira de Aeronautica has a one year low of $26.04 and a one year high of $61.05. The firm has a fifty day simple moving average of $49.86 and a two-hundred day simple moving average of $45.43.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.19. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.17 billion. Embraer-Empresa Brasileira de Aeronautica had a net margin of 6.02% and a return on equity of 16.43%. The company's revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. As a group, equities research analysts expect that Embraer-Empresa Brasileira de Aeronautica will post 2.04 earnings per share for the current year.

Embraer-Empresa Brasileira de Aeronautica Announces Dividend

The company also recently announced a -- dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a $0.049 dividend. The ex-dividend date of this dividend was Friday, May 16th. Embraer-Empresa Brasileira de Aeronautica's dividend payout ratio is 2.31%.

About Embraer-Empresa Brasileira de Aeronautica

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.