First Trust Advisors LP Raises Position in Esterline Technologies Co. (ESL)

First Trust Advisors LP lifted its position in Esterline Technologies Co. (NYSE:ESL) by 26.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,393 shares of the aerospace company’s stock after acquiring an additional 7,283 shares during the period. First Trust Advisors LP owned 0.12% of Esterline Technologies worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESL. Dimensional Fund Advisors LP boosted its holdings in Esterline Technologies by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,510,338 shares of the aerospace company’s stock valued at $226,308,000 after purchasing an additional 11,085 shares during the last quarter. Fiduciary Management Inc. WI boosted its holdings in Esterline Technologies by 6.6% in the third quarter. Fiduciary Management Inc. WI now owns 1,037,564 shares of the aerospace company’s stock valued at $93,536,000 after purchasing an additional 64,608 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Esterline Technologies by 16.6% in the fourth quarter. Victory Capital Management Inc. now owns 895,486 shares of the aerospace company’s stock valued at $66,893,000 after purchasing an additional 127,323 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Esterline Technologies by 46.2% in the fourth quarter. Fisher Asset Management LLC now owns 302,805 shares of the aerospace company’s stock valued at $22,620,000 after purchasing an additional 95,627 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Esterline Technologies by 4,287.4% in the fourth quarter. American Century Companies Inc. now owns 242,359 shares of the aerospace company’s stock valued at $18,104,000 after purchasing an additional 236,835 shares during the last quarter. 94.98% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities research analysts have commented on ESL shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $70.00 price target (down from $100.00) on shares of Esterline Technologies in a report on Tuesday, December 12th. Zacks Investment Research raised shares of Esterline Technologies from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 10th. Jefferies Group reissued a “hold” rating and set a $83.00 target price on shares of Esterline Technologies in a research note on Monday, January 8th. SunTrust Banks reissued a “hold” rating and set a $82.00 target price on shares of Esterline Technologies in a research note on Tuesday, January 9th. Finally, Bank of America increased their target price on shares of Esterline Technologies from $70.00 to $75.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.56.

Shares of ESL stock traded down $3.75 during mid-day trading on Friday, hitting $71.00. 243,792 shares of the stock were exchanged, compared to its average volume of 217,657. 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 Co. has a 52-week low of $67.15 and a 52-week high of $102.70. The firm has a market cap of $2,110.26, a P/E ratio of 16.28, a PEG ratio of 1.55 and a beta of 1.23.

Esterline Technologies (NYSE:ESL) last issued its quarterly earnings results on Thursday, February 1st. The aerospace company reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.02. The firm had revenue of $482.30 million for the quarter, compared to analyst estimates of $459.38 million. Esterline Technologies had a net margin of 3.31% and a return on equity of 6.89%. Esterline Technologies’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. analysts anticipate that Esterline Technologies Co. will post 3.81 earnings per share 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.

Institutional Ownership by Quarter for Esterline Technologies (NYSE:ESL)

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