Esterline Technologies Corporation (ESL) Downgraded to “Hold” at SunTrust Banks, Inc.

SunTrust Banks, Inc. cut shares of Esterline Technologies Corporation (NYSE:ESL) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $106.00 target price on the aerospace company’s stock.

A number of other brokerages also recently issued reports on ESL. BidaskClub raised Esterline Technologies Corporation from a sell rating to a hold rating in a research note on Wednesday, July 19th. Canaccord Genuity boosted their price objective 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. Credit Suisse Group downgraded Esterline Technologies Corporation from an outperform rating to a neutral rating and dropped their price objective for the company from $106.00 to $100.00 in a research note on Friday, August 4th. Jefferies Group LLC reissued a hold rating and issued a $92.00 price objective on shares of Esterline Technologies Corporation in a research note on Tuesday, July 25th. Finally, Zacks Investment Research downgraded Esterline Technologies Corporation from a hold rating to a strong sell rating in a research note on Thursday, October 19th. Two research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock currently has an average rating of Hold and an average target price of $92.33.

Shares of Esterline Technologies Corporation (ESL) traded down $0.75 on Friday, reaching $69.85. The company’s stock had a trading volume of 596,500 shares, compared to its average volume of 156,266. The firm has a market cap of $2,116.23, a P/E ratio of 16.16, a PEG ratio of 1.28 and a beta of 1.54. Esterline Technologies Corporation has a 52-week low of $69.10 and a 52-week high of $102.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03.

Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.26). The company had revenue of $531.50 million for the quarter, compared to analyst estimates of $540.55 million. Esterline Technologies Corporation had a return on equity of 7.68% and a net margin of 5.86%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. equities research analysts forecast that Esterline Technologies Corporation will post 4.96 EPS for the current fiscal year.

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In other Esterline Technologies Corporation news, major shareholder J Richard Atwood sold 31,155 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $96.04, for a total transaction of $2,992,126.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total value of $693,815.84. The disclosure for this sale can be found here. Insiders have sold a total of 269,911 shares of company stock valued at $25,692,702 over the last three months. Corporate insiders own 1.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ESL. Teachers Advisors LLC grew its holdings in shares of Esterline Technologies Corporation by 4.9% in the first quarter. Teachers Advisors LLC now owns 58,277 shares of the aerospace company’s stock valued at $5,015,000 after acquiring an additional 2,746 shares in the last quarter. Thrivent Financial For Lutherans grew its holdings in shares of Esterline Technologies Corporation by 10.2% in the first quarter. Thrivent Financial For Lutherans now owns 5,600 shares of the aerospace company’s stock valued at $482,000 after acquiring an additional 520 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Esterline Technologies Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 2,431,429 shares of the aerospace company’s stock valued at $209,225,000 after acquiring an additional 139,687 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Esterline Technologies Corporation by 7.7% in the first quarter. Geode Capital Management LLC now owns 236,239 shares of the aerospace company’s stock valued at $20,328,000 after acquiring an additional 16,877 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Esterline Technologies Corporation by 43.4% in the first quarter. Morgan Stanley now owns 205,698 shares of the aerospace company’s stock valued at $17,701,000 after acquiring an additional 62,209 shares in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Esterline Technologies Corporation (NYSE:ESL)

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