Ameriprise Financial Inc. Purchases 204,443 Shares of Embraer-Empresa Brasileira de Aeronautica $ERJ

Key Points

• Ameriprise Financial Inc. increased its stake in Embraer-Empresa Brasileira de Aeronautica by 34.8%, acquiring an additional 204,443 shares, bringing its total ownership to 791,509 shares valued at approximately $36.57 million.
• Brokerages have issued mixed ratings for Embraer, with Zacks lowering its status to "strong sell" while Goldman Sachs raised its price target from $60 to $67 and rated it a "buy."
• Embraer reported a quarterly earnings miss with an EPS of ($0.02), falling short of estimates of $0.47, despite having a revenue of $1.82 billion, exceeding the expected $1.67 billion.

Ameriprise Financial Inc. grew its position in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 34.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 791,509 shares of the aerospace company's stock after purchasing an additional 204,443 shares during the quarter. Ameriprise Financial Inc. owned about 0.43% of Embraer-Empresa Brasileira de Aeronautica worth $36,569,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Colonial Trust Co SC bought a new stake in Embraer-Empresa Brasileira de Aeronautica in the 4th quarter valued at $42,000. Farther Finance Advisors LLC boosted its position in shares of Embraer-Empresa Brasileira de Aeronautica by 673.0% in the first quarter. Farther Finance Advisors LLC now owns 2,466 shares of the aerospace company's stock valued at $114,000 after acquiring an additional 2,147 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 47.0% in the first quarter. PNC Financial Services Group Inc. now owns 3,802 shares of the aerospace company's stock valued at $176,000 after acquiring an additional 1,216 shares in the last quarter. US Bancorp DE increased its position in Embraer-Empresa Brasileira de Aeronautica by 19.4% during the first quarter. US Bancorp DE now owns 3,984 shares of the aerospace company's stock worth $184,000 after acquiring an additional 648 shares during the period. Finally, Redwood Investments LLC bought a new position in Embraer-Empresa Brasileira de Aeronautica during the fourth quarter worth about $161,000. 34.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ERJ. Zacks Research lowered shares of Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Wall Street Zen lowered Embraer-Empresa Brasileira de Aeronautica from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. The Goldman Sachs Group lifted their price objective on Embraer-Empresa Brasileira de Aeronautica from $60.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wolfe Research upgraded Embraer-Empresa Brasileira de Aeronautica from a "peer perform" rating to an "outperform" rating and set a $64.00 target price for the company in a research report on Thursday, July 31st. Finally, HSBC upgraded Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and raised their price target for the stock from $45.00 to $57.00 in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Embraer-Empresa Brasileira de Aeronautica has a consensus rating of "Moderate Buy" and an average target price of $54.67.

Embraer-Empresa Brasileira de Aeronautica Stock Down 0.3%

NYSE ERJ opened at $56.27 on Friday. The business has a fifty day moving average price of $55.27 and a two-hundred day moving average price of $49.82. The stock has a market capitalization of $10.33 billion, a PE ratio of 27.45 and a beta of 1.76. Embraer-Empresa Brasileira de Aeronautica has a fifty-two week low of $31.76 and a fifty-two week high of $61.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.33 and a quick ratio of 0.60.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The aerospace company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.49). Embraer-Empresa Brasileira de Aeronautica had a return on equity of 13.38% and a net margin of 5.43%.The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $0.44 EPS. Embraer-Empresa Brasileira de Aeronautica has set its FY 2025 guidance at EPS. Equities analysts expect that Embraer-Empresa Brasileira de Aeronautica will post 2.04 earnings per share for the current fiscal year.

Embraer-Empresa Brasileira de Aeronautica 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.

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