Alliancebernstein L.P. lessened its holdings in Esterline Technologies Co. (NYSE:ESL) by 23.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 743,912 shares of the aerospace company’s stock after selling 223,754 shares during the period. Alliancebernstein L.P. owned 2.50% of Esterline Technologies worth $55,570,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. LSV Asset Management acquired a new position in Esterline Technologies during the 4th quarter worth $112,000. Dowling & Yahnke LLC acquired a new position in Esterline Technologies during the 4th quarter worth $217,000. ING Groep NV lifted its position in Esterline Technologies by 23.2% during the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock worth $297,000 after acquiring an additional 750 shares during the last quarter. Parametrica Management Ltd acquired a new position in Esterline Technologies during the 4th quarter worth $299,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Esterline Technologies during the 3rd quarter worth $300,000. 94.98% of the stock is owned by institutional investors and hedge funds.
ESL has been the subject of a number of research analyst reports. Credit Suisse Group reissued a “neutral” rating and issued a $70.00 target price (down previously from $100.00) on shares of Esterline Technologies in a research note on Tuesday, December 12th. ValuEngine raised shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research raised shares of Esterline Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Jefferies Group reaffirmed a “hold” rating and set a $83.00 price objective on shares of Esterline Technologies in a research note on Monday, January 8th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $78.00 price objective on shares of Esterline Technologies in a research note on Monday, November 27th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Esterline Technologies currently has a consensus rating of “Hold” and an average price target of $79.71.
In other news, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $75.63, for a total transaction of $453,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.
Esterline Technologies Co. (ESL) opened at $74.95 on Tuesday. Esterline Technologies Co. has a twelve month low of $67.15 and a twelve month high of $102.70. The firm has a market cap of $2,229.13, a P/E ratio of 18.56, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a quick ratio of 2.11, a current ratio of 3.46 and a debt-to-equity ratio of 0.43.
Esterline Technologies (NYSE:ESL) last posted its earnings results on Thursday, February 1st. The aerospace company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Esterline Technologies had a net margin of 3.31% and a return on equity of 6.89%. The company had revenue of $482.30 million for the quarter, compared to analyst estimates of $459.38 million. During the same period last year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts predict that Esterline Technologies Co. will post 3.81 EPS for the current fiscal year.
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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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