Envestnet Asset Management Inc. lowered its holdings in Esterline (NYSE:ESL) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,822 shares of the aerospace company’s stock after selling 1,836 shares during the period. Envestnet Asset Management Inc.’s holdings in Esterline were worth $584,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. LSV Asset Management purchased a new position in shares of Esterline during the 4th quarter valued at about $112,000. Dowling & Yahnke LLC purchased a new position in shares of Esterline during the 4th quarter valued at about $217,000. ING Groep NV raised its holdings in shares of Esterline by 23.2% during the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after buying an additional 750 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Esterline during the 4th quarter valued at about $299,000. Finally, Teton Advisors Inc. purchased a new position in shares of Esterline during the 4th quarter valued at about $331,000. 95.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Esterline stock opened at $72.60 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.09 and a current ratio of 3.43. The company has a market capitalization of $2,125.10, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.56 and a beta of 1.23. Esterline has a one year low of $67.15 and a one year high of $102.70.
A number of equities analysts recently weighed in on ESL shares. Zacks Investment Research raised Esterline from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Monday, April 2nd. Credit Suisse Group cut Esterline from a “neutral” rating to an “underperform” rating in a report on Friday, January 12th. SunTrust Banks reissued a “hold” rating and set a $82.00 price objective on shares of Esterline in a report on Tuesday, January 9th. Bank of America raised their price objective on Esterline from $70.00 to $75.00 and gave the company an “underperform” rating in a report on Tuesday, February 6th. Finally, Jefferies Group reissued a “hold” rating and set a $83.00 price objective on shares of Esterline in a report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Esterline currently has an average rating of “Hold” and a consensus price target of $79.56.
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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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