Nordea Investment Management AB Sells 60,104 Shares of Embraer SA (NYSE:ERJ)

Nordea Investment Management AB decreased its stake in Embraer SA (NYSE:ERJ) by 47.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,796 shares of the aerospace company’s stock after selling 60,104 shares during the quarter. Nordea Investment Management AB’s holdings in Embraer were worth $1,289,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of Embraer by 36.0% during the first quarter. Quadrant Capital Group LLC now owns 2,508 shares of the aerospace company’s stock worth $46,000 after buying an additional 664 shares during the period. SG Americas Securities LLC acquired a new position in shares of Embraer during the fourth quarter worth about $112,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Embraer by 22.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,222 shares of the aerospace company’s stock worth $137,000 after buying an additional 1,340 shares during the period. National Asset Management Inc. acquired a new position in shares of Embraer during the fourth quarter worth about $209,000. Finally, Holistic Financial Partners boosted its position in shares of Embraer by 17.8% during the first quarter. Holistic Financial Partners now owns 12,455 shares of the aerospace company’s stock worth $237,000 after buying an additional 1,879 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on ERJ. ValuEngine cut Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised Garrett Motion from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.75.

ERJ traded down $0.15 on Friday, hitting $20.58. 439,904 shares of the company were exchanged, compared to its average volume of 493,394. The company has a current ratio of 2.25, a quick ratio of 1.29 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average price of $19.86. The company has a market cap of $3.80 billion, a P/E ratio of -68.60 and a beta of -0.16. Embraer SA has a 12 month low of $16.81 and a 12 month high of $23.68.

Embraer (NYSE:ERJ) last released its quarterly earnings data on Wednesday, May 15th. The aerospace company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The business had revenue of $823.30 million during the quarter, compared to the consensus estimate of $1.03 billion. Embraer had a negative net margin of 4.25% and a negative return on equity of 2.32%. Embraer’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.13) EPS. On average, equities research analysts predict that Embraer SA will post -0.52 earnings per share for the current fiscal year.

Embraer Company Profile

Embraer SA designs, develops, manufactures, and sells aircraft and systems in Brazil, North America, Latin America, the Asia Pacific, Europe, and internationally. It operates through Commercial Aviation, Defense and Security, Executive Jets, Service & Support, and Other segments. The Commercial Aviation segment develops, produces, and sells commercial jets; and provides support services, as well as leases aircraft.

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Institutional Ownership by Quarter for Embraer (NYSE:ERJ)

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