Victory Capital Management Inc. Sells 494,437 Shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ)

Victory Capital Management Inc. cut its stake in shares of Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Free Report) by 72.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,781 shares of the aerospace company's stock after selling 494,437 shares during the quarter. Victory Capital Management Inc. owned 0.10% of Embraer-Empresa Brasileira de Aeronautica worth $8,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ERJ. Brighton Jones LLC bought a new stake in Embraer-Empresa Brasileira de Aeronautica during the fourth quarter worth about $502,000. Raymond James Financial Inc. bought a new position in Embraer-Empresa Brasileira de Aeronautica in the 4th quarter worth $2,453,000. Quantbot Technologies LP bought a new position in shares of Embraer-Empresa Brasileira de Aeronautica in the 4th quarter worth approximately $121,000. Sei Investments Co. increased its holdings in shares of Embraer-Empresa Brasileira de Aeronautica by 20.7% during the fourth quarter. Sei Investments Co. now owns 239,423 shares of the aerospace company's stock valued at $8,782,000 after acquiring an additional 41,143 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake 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 valued at $17,020,000 after purchasing an additional 242,649 shares in the last quarter. 34.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group reissued a "sell" rating and issued a $39.00 target price (up previously from $35.00) on shares of Embraer-Empresa Brasileira de Aeronautica in a report on Thursday, April 24th. The Goldman Sachs Group raised their target price on 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. HSBC upgraded Embraer-Empresa Brasileira de Aeronautica from a "hold" rating to a "buy" rating and boosted their price target for the company from $45.00 to $57.00 in a research note on Wednesday, June 4th. Finally, Hsbc Global Res upgraded 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 analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.40.

Embraer-Empresa Brasileira de Aeronautica Price Performance

Embraer-Empresa Brasileira de Aeronautica stock traded up $0.20 during mid-day trading on Friday, hitting $47.81. The stock had a trading volume of 1,629,258 shares, compared to its average volume of 2,162,860. The firm has a market capitalization of $8.78 billion, a P/E ratio of 22.14 and a beta of 1.72. The company has a current ratio of 1.32, a quick ratio of 0.59 and a debt-to-equity ratio of 0.56. The firm's 50 day moving average is $51.34 and its 200 day moving average is $47.06. Embraer-Empresa Brasileira de Aeronautica has a one year low of $26.04 and a one year high of $61.65.

Embraer-Empresa Brasileira de Aeronautica (NYSE:ERJ - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The aerospace company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.19. Embraer-Empresa Brasileira de Aeronautica had a return on equity of 16.43% and a net margin of 6.02%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted ($0.48) EPS. The firm's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side 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 business also recently disclosed a -- dividend, which was paid on Monday, June 2nd. Shareholders of record on Friday, May 16th were issued a dividend of $0.049 per share. The ex-dividend date of this dividend was Friday, May 16th. Embraer-Empresa Brasileira de Aeronautica's dividend payout ratio (DPR) is presently 2.31%.

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.