Principal Financial Group Inc. cut its holdings in shares of Esterline Technologies Corporation (NYSE:ESL) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 364,754 shares of the aerospace company’s stock after selling 14,029 shares during the quarter. Principal Financial Group Inc. owned about 1.22% of Esterline Technologies Corporation worth $32,883,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in Esterline Technologies Corporation by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 133 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Esterline Technologies Corporation by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock valued at $112,000 after acquiring an additional 120 shares during the period. Flinton Capital Management LLC boosted its holdings in Esterline Technologies Corporation by 57.4% during the 2nd quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock valued at $129,000 after acquiring an additional 496 shares during the period. Pacad Investment Ltd. boosted its holdings in Esterline Technologies Corporation by 100.0% during the 2nd quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock valued at $171,000 after acquiring an additional 900 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Esterline Technologies Corporation during the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 91.30% of the company’s stock.
Shares of Esterline Technologies Corporation (ESL) opened at $71.25 on Friday. The firm has a market capitalization of $2,101.24, a PE ratio of 16.04, a PEG ratio of 1.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 3.25. Esterline Technologies Corporation has a 12-month low of $69.10 and a 12-month high of $102.70.
Esterline Technologies Corporation (NYSE:ESL) last released its quarterly earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.26). The firm had revenue of $531.50 million for the quarter, compared to analysts’ expectations of $540.55 million. Esterline Technologies Corporation had a return on equity of 7.68% and a net margin of 5.86%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.96 EPS. research analysts forecast that Esterline Technologies Corporation will post 3.85 earnings per share for the current fiscal year.
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A number of equities analysts recently commented on the company. The Goldman Sachs Group, Inc. cut Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and lowered their target price for the company from $86.00 to $75.00 in a report on Thursday, August 10th. ValuEngine lowered Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Canaccord Genuity reduced their price target on Esterline Technologies Corporation from $92.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, November 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $90.00 price target (down previously from $92.00) on shares of Esterline Technologies Corporation in a research report on Wednesday, August 9th. Finally, Drexel Hamilton lowered Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.33.
In related news, Director Nils Larsen bought 1,450 shares of the stock in a transaction on Tuesday, November 14th. The shares were bought at an average cost of $70.51 per share, for a total transaction of $102,239.50. Following the purchase, the director now owns 2,690 shares of the company’s stock, valued at approximately $189,671.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Curtis C. Reusser bought 2,900 shares of the stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $70.00 per share, for a total transaction of $203,000.00. Following the completion of the purchase, the chairman now directly owns 39,199 shares in the company, valued at approximately $2,743,930. The disclosure for this purchase can be found here. Insiders have sold a total of 269,911 shares of company stock worth $25,692,702 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
Esterline Technologies Corporation Profile
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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