Carrhae Capital 13F: Cuts Embraer (EMBJ) Stake by $123M

Carrhae Capital cut its stake in Embraer S.A. EMBJ by 80.1% during the quarter, according to a Form 13F filing filed with the SEC on October 20, 2026. The fund sold 1,626,695 shares of the aerospace and defense company, leaving it with 403,071 shares valued at about $30.4 million.

EMBJ Embraer S.A.

$72.37 ▲ +11.25% year to date

1M 3M YTD

Daily close · Oct 20, 2026

What Changed in Carrhae Capital's Embraer S.A. Position

Prior to the filing, Carrhae Capital held 2,029,766 shares of Embraer S.A. The sharp reduction to 403,071 shares marks an 80.1% drop in its holdings for the period. The remaining stake carries a reported value of $30,359,308.

Other Institutional Activity in Embraer S.A.

Other large institutional managers adjusted their positions in Embraer S.A. during the same reporting window. Brandes Investment Partners L.P. grew its holdings by 332,525 shares, ending with 6,036,219 shares worth about $436.8 million. Egerton Capital LLP added 409,097 shares to finish with 3,384,349 shares valued at about $244.9 million. On the other hand, GQG Partners LLC reduced its stake by 2,885,758 shares, leaving it with 3,188,244 shares worth about $230.7 million. Jennison Associates LLC cut 2,651,114 shares to hold 2,732,952 shares worth about $197.8 million. American Century Companies Inc trimmed 177,132 shares, ending with 2,236,107 shares valued at about $161.8 million.

Embraer S.A. Stock Down 1.2%

Embraer S.A. shares closed at $72.37 on October 20, 2026. The stock recently traded at $72.37, sitting 2.7% below its 50-day moving average of $74.37 and 7.1% above its 200-day moving average of $67.58. The share price sits 10.4% below its 52-week high of $80.75 and well above its 52-week low of $53.56.

Recent Earnings

Embraer S.A. reported $44.13 billion in trailing twelve month revenue and earnings of $2.47 per share. The company generated a net profit margin of 5.3% and a return on equity of 12.2%, alongside year-over-year revenue growth of 10.4%. The company's next earnings report is scheduled for November 10, 2026.

Dividend

Embraer S.A. pays an annual dividend rate of $0.95 per share, giving it a dividend yield of 1.31%. The payout ratio stands at 31.7%.

Analysts Set New Price Targets

JP Morgan maintained its Overweight rating on the stock while raising its price target from $80.00 to $104.00 on August 14, 2026. Embraer S.A. currently holds a consensus recommendation key of strong_buy with a mean price target of $94.73 across 15 analyst opinions.

About Embraer S.A.

Embraer S.A. designs, manufactures, and sells aircraft and related systems worldwide. Headquartered in Sao Paulo, Brazil, the company operates across commercial aviation, defense and security, executive aviation, and support services segments to serve airline and government customers globally.

Bottom Line

Investors will look toward Embraer S.A.'s upcoming earnings release on November 10, 2026, for further insight into the company's financial trajectory. Institutional portfolio adjustments will continue to unfold in subsequent SEC filings.