California Public Employees Retirement System reduced its position in Esterline Technologies Co. (NYSE:ESL) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,689 shares of the aerospace company’s stock after selling 7,164 shares during the quarter. California Public Employees Retirement System owned approximately 0.27% of Esterline Technologies worth $5,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in shares of Esterline Technologies by 4.9% in the first quarter. Franklin Resources Inc. now owns 786,997 shares of the aerospace company’s stock worth $57,569,000 after acquiring an additional 36,587 shares during the period. Anchor Capital Advisors LLC boosted its holdings in shares of Esterline Technologies by 8.4% in the first quarter. Anchor Capital Advisors LLC now owns 256,599 shares of the aerospace company’s stock worth $18,770,000 after acquiring an additional 19,814 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Esterline Technologies in the first quarter worth $648,000. BlackRock Inc. boosted its holdings in shares of Esterline Technologies by 10.4% in the first quarter. BlackRock Inc. now owns 3,957,390 shares of the aerospace company’s stock worth $289,483,000 after acquiring an additional 373,639 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Esterline Technologies by 21.8% in the first quarter. Envestnet Asset Management Inc. now owns 9,526 shares of the aerospace company’s stock worth $697,000 after acquiring an additional 1,704 shares during the period. 94.52% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on ESL. Zacks Investment Research lowered Esterline Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Barclays began coverage on Esterline Technologies in a report on Thursday, March 29th. They issued an “underweight” rating and a $76.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Esterline Technologies currently has a consensus rating of “Hold” and a consensus price target of $79.78.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings data on Thursday, May 3rd. The aerospace company reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. The company had revenue of $517.60 million during the quarter, compared to analyst estimates of $503.91 million. Esterline Technologies had a return on equity of 6.08% and a net margin of 2.74%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. equities research analysts anticipate that Esterline Technologies Co. will post 3.71 EPS for the current year.
Esterline Technologies Profile
Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.
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