Philadelphia Financial Management of San Francisco LLC Buys New Position in Embraer S.A. (NYSE:ERJ)

Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Embraer S.A. (NYSE:ERJ) during the third quarter, Holdings Channel.com reports. The fund purchased 304,410 shares of the aerospace company’s stock, valued at approximately $10,767,000. Embraer accounts for 1.7% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 20th biggest holding.

Other hedge funds have also made changes to their positions in the company. Brendel Financial Advisors LLC acquired a new stake in Embraer during the 3rd quarter worth approximately $202,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Embraer in the 3rd quarter valued at about $10,611,000. SG Americas Securities LLC acquired a new position in shares of Embraer during the second quarter worth about $2,458,000. SteelPeak Wealth LLC purchased a new stake in shares of Embraer during the second quarter worth approximately $443,000. Finally, Blue Trust Inc. raised its holdings in Embraer by 35.7% in the second quarter. Blue Trust Inc. now owns 11,758 shares of the aerospace company’s stock valued at $313,000 after acquiring an additional 3,091 shares in the last quarter. Institutional investors and hedge funds own 34.65% of the company’s stock.

Embraer Trading Down 2.6 %

Shares of NYSE ERJ opened at $37.03 on Wednesday. The stock has a 50 day moving average of $35.78 and a two-hundred day moving average of $32.29. Embraer S.A. has a twelve month low of $16.88 and a twelve month high of $40.34. The company has a current ratio of 1.56, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

Wall Street Analyst Weigh In

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

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.