OppenheimerFunds Inc. trimmed its holdings in Esterline Technologies Co. (NYSE:ESL) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,672 shares of the aerospace company’s stock after selling 2,227 shares during the period. OppenheimerFunds Inc.’s holdings in Esterline Technologies were worth $648,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ESL. LSV Asset Management acquired a new stake in Esterline Technologies in the 4th quarter worth about $112,000. Dowling & Yahnke LLC acquired a new stake in Esterline Technologies in the 4th quarter worth about $217,000. ING Groep NV lifted its stake in shares of Esterline Technologies by 23.2% in the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after purchasing an additional 750 shares in the last quarter. Parametrica Management Ltd acquired a new position in shares of Esterline Technologies in the 4th quarter valued at about $299,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Esterline Technologies in the 3rd quarter valued at about $300,000. 94.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ESL stock opened at $76.00 on Wednesday. The company has a market capitalization of $2,227.64, a PE ratio of 18.55, a P/E/G ratio of 1.64 and a beta of 1.29. The company has a current ratio of 3.46, a quick ratio of 2.11 and a debt-to-equity ratio of 0.43. Esterline Technologies Co. has a twelve month low of $67.15 and a twelve month high of $102.70.
Esterline Technologies (NYSE:ESL) last announced its earnings results on Thursday, February 1st. The aerospace company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $482.30 million for the quarter, compared to the consensus estimate of $459.38 million. Esterline Technologies had a return on equity of 6.89% and a net margin of 3.31%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. research analysts predict that Esterline Technologies Co. will post 3.81 earnings per share for the current year.
In related news, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was 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 SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.
Several research firms have recently weighed in on ESL. ValuEngine raised Esterline Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. SunTrust Banks reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Esterline Technologies in a research note on Tuesday, January 9th. Bank of America lifted their price objective on Esterline Technologies from $70.00 to $75.00 and gave the company an “underperform” rating in a research note on Tuesday, February 6th. Credit Suisse Group lifted their price objective on Esterline Technologies from $70.00 to $72.00 and gave the company an “underperform” rating in a research note on Monday, February 5th. Finally, Zacks Investment Research lowered Esterline Technologies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $79.71.
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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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