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JPMorgan Chase & Co. Acquires 3,036,797 Shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

Embraer-Empresa Brasileira de Aeronautica logo with Aerospace background

Key Points

  • JPMorgan Chase & Co. significantly increased its stake in Embraer-Empresa Brasileira de Aeronautica by 654.5%, acquiring 3,036,797 additional shares, bringing its total holdings to approximately 3,500,799 shares, valued at $161.7 million.
  • Institutional investors currently own 34.65% of Embraer's stock, indicating strong interest from the investment community.
  • Recent analyst ratings for Embraer include upgrades from HSBC (to a "buy" rating with a price target of $57) and Wolfe Research (to "outperform" with a price target of $64), contrasting with a "sell" rating from UBS Group.
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JPMorgan Chase & Co. lifted its holdings in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 654.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,500,799 shares of the aerospace company's stock after acquiring an additional 3,036,797 shares during the period. JPMorgan Chase & Co. owned approximately 1.91% of Embraer-Empresa Brasileira de Aeronautica worth $161,737,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ERJ. Brighton Jones LLC acquired a new position in shares of Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at about $502,000. Envestnet Asset Management Inc. grew its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 10.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 242,047 shares of the aerospace company's stock valued at $8,878,000 after acquiring an additional 22,603 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 2.0% in the fourth quarter. Bank of Montreal Can now owns 41,389 shares of the aerospace company's stock valued at $1,518,000 after acquiring an additional 799 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at about $2,453,000. Finally, Townsquare Capital LLC grew its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 1.7% in the fourth quarter. Townsquare Capital LLC now owns 26,461 shares of the aerospace company's stock valued at $971,000 after acquiring an additional 454 shares in the last quarter. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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. UBS Group restated a "sell" rating and issued a $39.00 price target (up previously from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a research report on Thursday, April 24th. Wall Street Zen cut Embraer-Empresa Brasileira de Aeronautica from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Wolfe Research upgraded Embraer-Empresa Brasileira de Aeronautica from a "peer perform" rating to an "outperform" rating and set a $64.00 price target on the stock in a research report on Thursday, July 31st. Finally, Hsbc Global Res upgraded Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.83.

Read Our Latest Analysis on Embraer-Empresa Brasileira de Aeronautica

Embraer-Empresa Brasileira de Aeronautica Stock Performance

NYSE:ERJ opened at $59.81 on Friday. The stock's 50-day simple moving average is $53.83 and its 200 day simple moving average is $48.72. The firm has a market capitalization of $10.98 billion, a PE ratio of 29.17 and a beta of 1.76. The company has a quick ratio of 0.60, a current ratio of 1.33 and a debt-to-equity ratio of 0.58. Embraer-Empresa Brasileira de Aeronautica has a twelve month low of $31.76 and a twelve month high of $61.65.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last released 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). The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.67 billion. Embraer-Empresa Brasileira de Aeronautica had a net margin of 5.43% and a return on equity of 13.38%. During the same period last year, the business earned $0.44 earnings per share. On average, analysts anticipate that Embraer-Empresa Brasileira de Aeronautica will post 2.04 EPS for the current fiscal year.

Embraer-Empresa Brasileira de Aeronautica Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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