Esterline Technologies Co. (NYSE:ESL)‘s stock had its “hold” rating restated by investment analysts at Canaccord Genuity in a report issued on Friday, May 5th. They presently have a $90.00 price objective on the aerospace company’s stock. Canaccord Genuity’s price objective indicates a potential downside of 3.33% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. SunTrust Banks, Inc. started coverage on Esterline Technologies in a report on Thursday, January 19th. They issued a “buy” rating and a $106.00 price target for the company. Jefferies Group LLC downgraded Esterline Technologies from a “buy” rating to a “hold” rating and set a $92.00 price target for the company. in a report on Thursday, January 12th. Zacks Investment Research upgraded Esterline Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a $106.00 price target (up from $96.00) on shares of Esterline Technologies in a report on Friday, May 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $95.33.
Shares of Esterline Technologies (NYSE:ESL) traded up 0.65% on Friday, hitting $93.10. 201,286 shares of the stock were exchanged. Esterline Technologies has a 52-week low of $56.72 and a 52-week high of $96.50. The company’s 50 day moving average is $89.29 and its 200-day moving average is $87.55. The stock has a market cap of $2.77 billion, a PE ratio of 20.83 and a beta of 1.36.
Esterline Technologies (NYSE:ESL) last issued its quarterly earnings results on Thursday, May 4th. The aerospace company reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.29. Esterline Technologies had a return on equity of 9.51% and a net margin of 5.61%. The business had revenue of $509.20 million during the quarter, compared to the consensus estimate of $491.74 million. During the same period in the previous year, the business earned $0.92 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts predict that Esterline Technologies will post $4.96 EPS for the current fiscal year.
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In other news, CFO Robert David George sold 17,100 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $90.10, for a total value of $1,540,710.00. Following the completion of the transaction, the chief financial officer now owns 32,060 shares of the company’s stock, valued at $2,888,606. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder First Pacific Advisors, Llc sold 24,000 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $90.02, for a total value of $2,160,480.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,525 shares of company stock valued at $8,942,253. 1.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESL. BlackRock Inc. boosted its position in Esterline Technologies by 25,619.9% in the first quarter. BlackRock Inc. now owns 3,502,276 shares of the aerospace company’s stock valued at $301,371,000 after buying an additional 3,488,659 shares during the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in Esterline Technologies during the first quarter valued at about $21,486,000. Norges Bank purchased a new stake in shares of Esterline Technologies during the fourth quarter valued at $21,704,000. Vanguard Group Inc. raised its stake in shares of Esterline Technologies 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 buying an additional 139,687 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Esterline Technologies by 33.0% in the first quarter. AQR Capital Management LLC now owns 510,732 shares of the aerospace company’s stock valued at $43,948,000 after buying an additional 126,686 shares during the period. 87.49% of the stock is owned by institutional investors.
Esterline Technologies 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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