Esterline Technologies Co. (NYSE:ESL) major shareholder Fpa Funds Trust sold 110,935 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $117.52, for a total transaction of $13,037,081.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of ESL stock opened at $117.53 on Friday. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 26.96, a P/E/G ratio of 2.20 and a beta of 0.65. Esterline Technologies Co. has a 1-year low of $67.15 and a 1-year high of $119.07.
ESL has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and issued a $92.00 price objective on shares of Esterline Technologies in a report on Friday, August 3rd. Canaccord Genuity upped their price objective on shares of Esterline Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a report on Friday, August 3rd. TheStreet raised shares of Esterline Technologies from a “c” rating to a “b-” rating in a report on Monday, July 30th. Wells Fargo & Co reissued a “market perform” rating and issued a $95.00 price objective (up previously from $84.00) on shares of Esterline Technologies in a report on Monday, July 23rd. Finally, Alembic Global Advisors initiated coverage on shares of Esterline Technologies in a report on Friday, October 5th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $88.94.
A number of hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama boosted its stake in Esterline Technologies by 2.1% during the third quarter. Retirement Systems of Alabama now owns 34,244 shares of the aerospace company’s stock worth $3,114,000 after buying an additional 710 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Esterline Technologies by 193.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,172 shares of the aerospace company’s stock worth $100,000 after buying an additional 772 shares during the period. Arizona State Retirement System boosted its stake in Esterline Technologies by 4.6% during the third quarter. Arizona State Retirement System now owns 18,815 shares of the aerospace company’s stock worth $1,711,000 after buying an additional 836 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Esterline Technologies by 5.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 15,375 shares of the aerospace company’s stock worth $1,135,000 after buying an additional 840 shares during the period. Finally, American Century Companies Inc. boosted its stake in Esterline Technologies by 0.4% during the second quarter. American Century Companies Inc. now owns 246,602 shares of the aerospace company’s stock worth $18,199,000 after buying an additional 873 shares during the period. 93.90% of the stock is owned by institutional investors.
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About Esterline Technologies
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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