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

SunTrust Banks, Inc. downgraded shares of Esterline Technologies Corporation (NYSE:ESL) from a buy rating to a hold rating in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $106.00 price target on the aerospace company’s stock.

Other analysts also recently issued research reports about the company. ValuEngine downgraded Esterline Technologies Corporation from a buy rating to a hold rating in a research note on Thursday. Canaccord Genuity restated a hold rating on shares of Esterline Technologies Corporation in a research note on Friday, October 13th. Zacks Investment Research upgraded Esterline Technologies Corporation from a strong sell rating to a hold rating in a research note on Wednesday, October 11th. Jefferies Group LLC restated a hold rating and set a $92.00 target price on shares of Esterline Technologies Corporation in a research note on Tuesday, July 25th. Finally, BidaskClub upgraded Esterline Technologies Corporation from a sell rating to a hold rating in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Esterline Technologies Corporation currently has a consensus rating of Hold and a consensus price target of $92.33.

Shares of Esterline Technologies Corporation (ESL) traded down $18.79 during midday trading on Friday, hitting $70.60. The stock had a trading volume of 1,042,400 shares, compared to its average volume of 154,247. 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 cap of $2,116.23, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.28 and a beta of 1.54. Esterline Technologies Corporation has a fifty-two week low of $69.35 and a fifty-two week high of $102.70.

Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, November 9th. The aerospace company reported $1.27 earnings per share for the quarter, missing the 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 business had revenue of $531.50 million for the quarter, compared to the consensus estimate of $540.55 million. During the same quarter in the previous year, the company earned $1.96 EPS. Esterline Technologies Corporation’s revenue for the quarter was down 2.3% compared to the same quarter last year. analysts predict that Esterline Technologies Corporation will post 4.96 earnings per share for the current year.

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In related news, major shareholder First Pacific Advisors, Llc sold 8,931 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $95.21, for a total transaction of $850,320.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the firm’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 sold a total of 269,911 shares of company stock valued at $25,692,702 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ESL. Teachers Advisors LLC increased its holdings in Esterline Technologies Corporation by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 58,277 shares of the aerospace company’s stock valued at $5,015,000 after purchasing an additional 2,746 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in Esterline Technologies Corporation by 10.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,600 shares of the aerospace company’s stock valued at $482,000 after purchasing an additional 520 shares in the last quarter. Vanguard Group Inc. increased its holdings in Esterline Technologies Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 2,431,429 shares of the aerospace company’s stock valued at $209,225,000 after purchasing an additional 139,687 shares in the last quarter. Geode Capital Management LLC increased its holdings in Esterline Technologies Corporation by 7.7% during the 1st quarter. Geode Capital Management LLC now owns 236,239 shares of the aerospace company’s stock valued at $20,328,000 after purchasing an additional 16,877 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Esterline Technologies Corporation by 43.4% during the 1st quarter. Morgan Stanley now owns 205,698 shares of the aerospace company’s stock valued at $17,701,000 after purchasing 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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