Drexel Hamilton cut shares of Esterline Technologies Corporation (NYSE:ESL) from a buy rating to a hold rating in a research note released on Friday morning, MarketBeat.com reports.
Several other brokerages have also weighed in on ESL. Seaport Global Securities started coverage on Esterline Technologies Corporation in a report on Tuesday, September 12th. They set a neutral rating and a $93.00 price objective on the stock. Canaccord Genuity boosted their price target on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a hold rating in a research note on Friday, August 4th. ValuEngine lowered Esterline Technologies Corporation from a buy rating to a hold rating in a research note on Friday, August 18th. SunTrust Banks, Inc. lowered Esterline Technologies Corporation from a buy rating to a hold rating and set a $106.00 price target on the stock. in a research note on Friday. Finally, Goldman Sachs Group, Inc. (The) downgraded Esterline Technologies Corporation from a neutral rating to a sell rating and cut their price objective for the company from $86.00 to $75.00 in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $92.33.
Shares of Esterline Technologies Corporation (ESL) opened at $69.85 on Friday. Esterline Technologies Corporation has a one year low of $69.10 and a one year high of $102.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.03 and a current ratio of 3.25. The firm has a market capitalization of $2,116.23, a PE ratio of 16.16, a PEG ratio of 1.28 and a beta of 1.54.
Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.26). Esterline Technologies Corporation had a net margin of 5.86% and a return on equity of 7.68%. The company had revenue of $531.50 million during the quarter, compared to the consensus estimate of $540.55 million. During the same period in the previous year, the business posted $1.96 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. equities research analysts anticipate that Esterline Technologies Corporation will post 4.96 earnings per share for the current fiscal year.
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In other news, major shareholder J Richard Atwood sold 31,155 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $96.04, for a total transaction of $2,992,126.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder First Pacific Advisors, Llc sold 8,931 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $95.21, for a total value of $850,320.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,911 shares of company stock valued at $25,692,702. Insiders own 1.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in Esterline Technologies Corporation by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,510,338 shares of the aerospace company’s stock valued at $226,308,000 after purchasing an additional 11,085 shares during the last quarter. Vanguard Group Inc. raised its stake in Esterline Technologies Corporation by 0.9% in the second quarter. Vanguard Group Inc. now owns 2,454,359 shares of the aerospace company’s stock valued at $232,673,000 after buying an additional 22,930 shares during the period. State Street Corp raised its stake in Esterline Technologies Corporation by 1.9% in the second quarter. State Street Corp now owns 1,082,486 shares of the aerospace company’s stock valued at $102,617,000 after buying an additional 20,181 shares during the period. Fiduciary Management Inc. WI raised its stake in Esterline Technologies Corporation by 6.6% in the third quarter. Fiduciary Management Inc. WI now owns 1,037,564 shares of the aerospace company’s stock valued at $93,536,000 after buying an additional 64,608 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Esterline Technologies Corporation by 12.0% in the second quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock valued at $88,653,000 after buying an additional 100,543 shares during the period. 91.30% of the stock is owned by hedge funds and other institutional investors.
Esterline Technologies Corporation Company 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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