Esterline Technologies Corporation (NYSE:ESL) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday, July 19th.
Several other research firms also recently issued reports on ESL. Canaccord Genuity reaffirmed a “hold” rating and set a $90.00 price objective on shares of Esterline Technologies Corporation in a report on Monday, May 15th. Credit Suisse Group reaffirmed an “outperform” rating and set a $106.00 price objective (up previously from $96.00) on shares of Esterline Technologies Corporation in a report on Friday, May 5th. Zacks Investment Research cut shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $92.00 target price on shares of Esterline Technologies Corporation in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $95.33.
Shares of Esterline Technologies Corporation (NYSE ESL) traded up 1.40% during mid-day trading on Wednesday, hitting $97.85. The company had a trading volume of 13,179 shares. The firm has a market cap of $2.91 billion, a PE ratio of 21.90 and a beta of 1.43. Esterline Technologies Corporation has a 12-month low of $59.56 and a 12-month high of $102.70. The firm’s 50 day moving average is $97.03 and its 200-day moving average is $91.43.
Esterline Technologies Corporation (NYSE:ESL) last released its quarterly earnings data on Thursday, May 4th. The aerospace company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.29. The company had revenue of $509.20 million for the quarter, compared to the consensus estimate of $491.74 million. Esterline Technologies Corporation had a return on equity of 9.94% and a net margin of 6.56%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 earnings per share. On average, equities analysts expect that Esterline Technologies Corporation will post $4.95 EPS for the current year.
In related news, CFO Robert David George sold 26,700 shares of Esterline Technologies Corporation stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $93.46, for a total value of $2,495,382.00. Following the transaction, the chief financial officer now directly owns 29,960 shares of the company’s stock, valued at $2,800,061.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $96.50, for a total transaction of $749,805.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,170 shares of company stock worth $3,865,674. Insiders own 1.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Esterline Technologies Corporation during the first quarter worth approximately $21,486,000. Retirement Systems of Alabama increased its stake in Esterline Technologies Corporation by 0.4% in the first quarter. Retirement Systems of Alabama now owns 38,328 shares of the aerospace company’s stock valued at $3,298,000 after buying an additional 137 shares during the period. Louisiana State Employees Retirement System increased its stake in Esterline Technologies Corporation by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the aerospace company’s stock valued at $645,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. increased its stake in Esterline Technologies Corporation by 33.6% in the first quarter. Capstone Asset Management Co. now owns 3,772 shares of the aerospace company’s stock valued at $325,000 after buying an additional 948 shares during the period. Finally, Bank of Montreal Can increased its stake in Esterline Technologies Corporation by 14.3% in the first quarter. Bank of Montreal Can now owns 3,132 shares of the aerospace company’s stock valued at $269,000 after buying an additional 393 shares during the last quarter. Institutional investors own 90.38% of the company’s stock.
About Esterline Technologies Corporation
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.
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