Alps Advisors Inc. reduced its stake in shares of Esterline Technologies Co. (NYSE:ESL) by 60.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,025 shares of the aerospace company’s stock after selling 7,702 shares during the quarter. Alps Advisors Inc.’s holdings in Esterline Technologies were worth $375,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ESL. Hartford Investment Management Co. acquired a new stake in Esterline Technologies in the 2nd quarter valued at about $208,000. Bank of Montreal Can raised its position in Esterline Technologies by 762.4% in the 2nd quarter. Bank of Montreal Can now owns 20,664 shares of the aerospace company’s stock valued at $1,525,000 after purchasing an additional 18,268 shares in the last quarter. Fisher Asset Management LLC raised its position in Esterline Technologies by 3.2% in the 2nd quarter. Fisher Asset Management LLC now owns 302,443 shares of the aerospace company’s stock valued at $22,320,000 after purchasing an additional 9,280 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Esterline Technologies by 6.8% during the 1st quarter. Principal Financial Group Inc. now owns 388,543 shares of the aerospace company’s stock worth $28,422,000 after acquiring an additional 24,605 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of Esterline Technologies by 6,585.3% during the 1st quarter. Summit Trail Advisors LLC now owns 210,787 shares of the aerospace company’s stock worth $211,000 after acquiring an additional 207,634 shares in the last quarter. 94.77% of the stock is owned by hedge funds and other institutional investors.
ESL has been the topic of several research analyst reports. TheStreet raised Esterline Technologies from a “c” rating to a “b-” rating in a research report on Monday, July 30th. Canaccord Genuity raised their target price on Esterline Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a research report on Friday, August 3rd. Jefferies Financial Group reissued a “hold” rating and set a $92.00 target price on shares of Esterline Technologies in a research report on Friday, August 3rd. Wells Fargo & Co reissued a “market perform” rating and set a $95.00 target price (up previously from $84.00) on shares of Esterline Technologies in a research report on Monday, July 23rd. Finally, Zacks Investment Research lowered Esterline Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $83.11.
ESL traded up $0.45 during trading on Friday, hitting $85.95. 76,800 shares of the stock were exchanged, compared to its average volume of 203,731. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. Esterline Technologies Co. has a 1-year low of $67.15 and a 1-year high of $96.95. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41.
Esterline Technologies (NYSE:ESL) last released its quarterly earnings results on Thursday, August 2nd. The aerospace company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.85 by $0.15. The company had revenue of $499.90 million for the quarter, compared to analyst estimates of $476.01 million. Esterline Technologies had a return on equity of 5.91% and a net margin of 2.62%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. equities analysts expect that Esterline Technologies Co. will post 3.73 EPS for the current fiscal year.
Esterline Technologies Profile
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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