Connor Clark & Lunn Investment Management Ltd. Buys 390,786 Shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Embraer-Empresa Brasileira de Aeronautica by 47.4% in the first quarter, owning 1,215,393 shares valued at approximately $56.15 million.
• Among institutional investors, Jennison Associates LLC and Invesco Ltd. made notable increases to their holdings, with Jennison growing its stake by 215.7% to 4,126,160 shares.
• Recent earnings revealed Embraer missed analysts' expectations with a reported EPS of ($0.02), yet exceeded revenue estimates at $1.82 billion for the quarter.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 47.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,215,393 shares of the aerospace company's stock after purchasing an additional 390,786 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.66% of Embraer-Empresa Brasileira de Aeronautica worth $56,151,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Embraer-Empresa Brasileira de Aeronautica during the 4th quarter valued at approximately $502,000. JPMorgan Chase & Co. increased its position in Embraer-Empresa Brasileira de Aeronautica by 109.6% during the 4th quarter. JPMorgan Chase & Co. now owns 464,002 shares of the aerospace company's stock worth $17,020,000 after purchasing an additional 242,649 shares during the period. Wells Fargo & Company MN increased its position in Embraer-Empresa Brasileira de Aeronautica by 1.2% during the 4th quarter. Wells Fargo & Company MN now owns 316,197 shares of the aerospace company's stock worth $11,598,000 after purchasing an additional 3,882 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Embraer-Empresa Brasileira de Aeronautica by 10.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 242,047 shares of the aerospace company's stock worth $8,878,000 after acquiring an additional 22,603 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Embraer-Empresa Brasileira de Aeronautica by 2.0% in the 4th quarter. Bank of Montreal Can now owns 41,389 shares of the aerospace company's stock worth $1,518,000 after acquiring an additional 799 shares during the period. 34.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their target price on Embraer-Empresa Brasileira de Aeronautica from $60.00 to $67.00 and gave the company a "buy" rating in a report on Thursday. Wall Street Zen lowered Embraer-Empresa Brasileira de Aeronautica from a "buy" rating to a "hold" rating in a research note on Saturday. Wolfe Research raised Embraer-Empresa Brasileira de Aeronautica from a "peer perform" rating to an "outperform" rating and set a $64.00 target price on the stock in a research report on Thursday, July 31st. Hsbc Global Res raised Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 4th. Finally, UBS Group reaffirmed a "sell" rating and issued a $39.00 target price (up from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.83.

Embraer-Empresa Brasileira de Aeronautica Stock Performance

Embraer-Empresa Brasileira de Aeronautica stock traded down $0.66 on Monday, reaching $57.74. 1,108,058 shares of the stock were exchanged, compared to its average volume of 2,851,349. The stock has a market cap of $10.60 billion, a PE ratio of 28.16 and a beta of 1.76. The company has a current ratio of 1.33, a quick ratio of 0.60 and a debt-to-equity ratio of 0.58. Embraer-Empresa Brasileira de Aeronautica has a twelve month low of $30.96 and a twelve month high of $61.65. The firm has a fifty day moving average price of $53.12 and a two-hundred day moving average price of $48.44.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The aerospace company reported ($0.02) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company posted $0.44 earnings per share. Sell-side analysts anticipate that Embraer-Empresa Brasileira de Aeronautica will post 2.04 EPS for the current year.

Embraer-Empresa Brasileira de Aeronautica 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.