Embraer S.A. (NYSE:ERJ) Shares Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lifted its stake in shares of Embraer S.A. (NYSE:ERJ) by 54.8% during the third quarter, Holdings Channel reports. The fund owned 1,112,314 shares of the aerospace company’s stock after acquiring an additional 393,696 shares during the period. Embraer comprises 1.3% of Itau Unibanco Holding S.A.’s investment portfolio, making the stock its 22nd largest position. Itau Unibanco Holding S.A.’s holdings in Embraer were worth $39,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ERJ. Artemis Investment Management LLP acquired a new stake in shares of Embraer during the third quarter worth about $30,358,000. Driehaus Capital Management LLC boosted its stake in shares of Embraer by 102.5% during the second quarter. Driehaus Capital Management LLC now owns 1,439,579 shares of the aerospace company’s stock worth $37,141,000 after buying an additional 728,592 shares during the period. Jennison Associates LLC boosted its stake in shares of Embraer by 102.1% during the third quarter. Jennison Associates LLC now owns 1,331,631 shares of the aerospace company’s stock worth $47,100,000 after buying an additional 672,644 shares during the period. Nicholas Investment Partners LP boosted its stake in shares of Embraer by 424.7% during the second quarter. Nicholas Investment Partners LP now owns 526,494 shares of the aerospace company’s stock worth $13,584,000 after buying an additional 426,153 shares during the period. Finally, Marshall Wace LLP lifted its position in Embraer by 76.5% in the second quarter. Marshall Wace LLP now owns 712,112 shares of the aerospace company’s stock valued at $18,372,000 after purchasing an additional 308,729 shares during the period. Hedge funds and other institutional investors own 34.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ERJ shares. TD Cowen raised shares of Embraer from a “hold” rating to a “buy” rating and increased their target price for the company from $26.00 to $41.00 in a report on Wednesday, September 4th. Bank of America boosted their price objective on shares of Embraer from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, UBS Group downgraded shares of Embraer from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $29.00 to $32.00 in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.43.

Embraer Price Performance

Shares of NYSE:ERJ opened at $37.97 on Tuesday. The company has a 50 day moving average of $35.73 and a 200-day moving average of $32.19. Embraer S.A. has a twelve month low of $16.88 and a twelve month high of $40.34. The company has a quick ratio of 0.76, a current ratio of 1.56 and a debt-to-equity ratio of 0.74.

About Embraer

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.