Nuveen LLC Invests $84.93 Million in Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

Key Points

• Nuveen LLC acquired a significant stake in Embraer-Empresa Brasileira de Aeronautica, purchasing 1,838,335 shares valued at approximately $84.9 million, representing 1.00% ownership.
• Several institutional investors also increased their investments in Embraer, with JPMorgan Chase & Co. boosting its position by 654.5% and owning over 3.5 million shares.
• Analysts have mixed views on the stock, with current consensus being a "Moderate Buy" and an average price target of $53.83, following various upgrades and downgrades from different firms.

Nuveen LLC purchased a new stake in shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,838,335 shares of the aerospace company's stock, valued at approximately $84,931,000. Nuveen LLC owned about 1.00% of Embraer-Empresa Brasileira de Aeronautica at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ERJ. Colonial Trust Co SC bought a new position in Embraer-Empresa Brasileira de Aeronautica in the fourth quarter valued at $42,000. Farther Finance Advisors LLC grew its position in shares of Embraer-Empresa Brasileira de Aeronautica by 673.0% in the 1st 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. Redwood Investments LLC bought a new position in shares of Embraer-Empresa Brasileira de Aeronautica in the 4th quarter valued at about $161,000. PNC Financial Services Group Inc. lifted its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 47.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,802 shares of the aerospace company's stock worth $176,000 after buying an additional 1,216 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Embraer-Empresa Brasileira de Aeronautica by 19.4% during the 1st quarter. US Bancorp DE now owns 3,984 shares of the aerospace company's stock worth $184,000 after buying an additional 648 shares during the last quarter. 34.65% of the stock is currently owned by institutional investors and hedge funds.

Embraer-Empresa Brasileira de Aeronautica Stock Down 3.8%

Shares of NYSE ERJ traded down $2.25 during trading on Friday, hitting $57.53. The stock had a trading volume of 1,961,290 shares, compared to its average volume of 2,590,066. The company has a market capitalization of $10.57 billion, a PE ratio of 28.06 and a beta of 1.76. The firm has a fifty day moving average of $54.05 and a two-hundred day moving average of $48.83. 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 has a 12 month low of $31.76 and a 12 month high of $61.65.

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) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.49). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.44 EPS. As a group, equities research analysts forecast that Embraer-Empresa Brasileira de Aeronautica will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Embraer-Empresa Brasileira de Aeronautica from $60.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wolfe Research raised shares of 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 report on Thursday, July 31st. HSBC raised shares of Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and lifted their price target for the company from $45.00 to $57.00 in a report on Wednesday, June 4th. Wall Street Zen lowered shares of Embraer-Empresa Brasileira de Aeronautica from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group boosted their target price on shares of Embraer-Empresa Brasileira de Aeronautica from $39.00 to $44.00 and gave the stock a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $54.67.

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.