New York State Common Retirement Fund Trims Holdings in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

New York State Common Retirement Fund trimmed its position in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 62.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,695 shares of the aerospace company's stock after selling 125,701 shares during the quarter. New York State Common Retirement Fund's holdings in Embraer-Empresa Brasileira de Aeronautica were worth $3,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERJ. Carrhae Capital LLP lifted its position in Embraer-Empresa Brasileira de Aeronautica by 48.1% in the fourth quarter. Carrhae Capital LLP now owns 2,670,740 shares of the aerospace company's stock worth $97,963,000 after buying an additional 866,919 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in Embraer-Empresa Brasileira de Aeronautica by 19.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 2,439,060 shares of the aerospace company's stock worth $89,465,000 after buying an additional 390,094 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Embraer-Empresa Brasileira de Aeronautica by 8.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,210,060 shares of the aerospace company's stock worth $81,065,000 after buying an additional 176,182 shares during the last quarter. Invesco Ltd. lifted its position in Embraer-Empresa Brasileira de Aeronautica by 17,140.6% in the fourth quarter. Invesco Ltd. now owns 1,235,635 shares of the aerospace company's stock worth $45,323,000 after buying an additional 1,228,468 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Embraer-Empresa Brasileira de Aeronautica by 104.4% in the fourth quarter. AQR Capital Management LLC now owns 795,528 shares of the aerospace company's stock worth $28,909,000 after buying an additional 406,384 shares during the last quarter. 34.65% of the stock is owned by hedge funds and other institutional investors.

Embraer-Empresa Brasileira de Aeronautica Stock Down 0.4%

Shares of ERJ opened at $48.77 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.59 and a current ratio of 1.32. Embraer-Empresa Brasileira de Aeronautica has a one year low of $26.04 and a one year high of $61.65. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 22.58 and a beta of 1.72. The stock has a 50 day moving average price of $51.38 and a 200 day moving average price of $46.81.

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

Embraer-Empresa Brasileira de Aeronautica Announces Dividend

The company also recently announced a -- dividend, which was paid on Monday, June 2nd. Investors of record on Friday, May 16th were paid a dividend of $0.049 per share. The ex-dividend date of this dividend was Friday, May 16th. Embraer-Empresa Brasileira de Aeronautica's payout ratio is 1.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ERJ shares. HSBC upgraded Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and raised their price target for the company from $45.00 to $57.00 in a research note on Wednesday, June 4th. UBS Group reaffirmed a "sell" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a research report on Thursday, April 24th. The Goldman Sachs Group lifted their price objective on shares of Embraer-Empresa Brasileira de Aeronautica from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Hsbc Global Res raised shares of 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, two have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $50.40.

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.

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