The BlackRock Inc. Purchases 882 Shares of Esterline Technologies Corp. (ESL)

The BlackRock Inc. Purchases 882 Shares of Esterline Technologies Corp. (ESL)

BlackRock Inc. boosted its stake in shares of Esterline Technologies Corp. (NYSE:ESL) by 7.1% during the third quarter, Holdings Channel reports. The firm owned 13,260 shares of the company’s stock after buying an additional 882 shares during the period. BlackRock Inc.’s holdings in Esterline Technologies Corp. were worth $1,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ESL. Advisors Asset Management Inc. increased its stake in Esterline Technologies Corp. by 1.2% in the third quarter. Advisors Asset Management Inc. now owns 14,065 shares of the company’s stock worth $1,070,000 after buying an additional 161 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Esterline Technologies Corp. by 2.6% in the second quarter. Ameritas Investment Partners Inc. now owns 6,942 shares of the company’s stock worth $431,000 after buying an additional 178 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Esterline Technologies Corp. by 1.4% in the third quarter. Nisa Investment Advisors LLC now owns 14,100 shares of the company’s stock worth $1,072,000 after buying an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Esterline Technologies Corp. by 2.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 10,179 shares of the company’s stock worth $774,000 after buying an additional 202 shares during the last quarter. Finally, Comerica Bank increased its stake in Esterline Technologies Corp. by 1.5% in the second quarter. Comerica Bank now owns 20,413 shares of the company’s stock worth $1,439,000 after buying an additional 305 shares during the last quarter. Institutional investors and hedge funds own 87.25% of the company’s stock.

Shares of Esterline Technologies Corp. (NYSE:ESL) traded up 1.60% during trading on Thursday, reaching $85.90. The company’s stock had a trading volume of 147,425 shares. Esterline Technologies Corp. has a 12-month low of $45.12 and a 12-month high of $94.73. The stock has a market cap of $2.54 billion, a P/E ratio of 25.14 and a beta of 1.39. The stock’s 50-day moving average is $89.77 and its 200-day moving average is $76.99.

Esterline Technologies Corp. (NYSE:ESL) last released its quarterly earnings data on Thursday, November 10th. The company reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.36. The firm had revenue of $543.80 million for the quarter, compared to the consensus estimate of $522.13 million. Esterline Technologies Corp. had a return on equity of 9.23% and a net margin of 5.10%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 earnings per share. Equities research analysts anticipate that Esterline Technologies Corp. will post $4.71 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on ESL. Zacks Investment Research upgraded Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Wednesday, October 5th. Jefferies Group upped their target price on Esterline Technologies Corp. from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, November 11th. SunTrust Banks Inc. began coverage on Esterline Technologies Corp. in a research report on Thursday. They set a “buy” rating and a $106.00 target price for the company. Finally, Canaccord Genuity reiterated a “hold” rating and set a $70.00 target price on shares of Esterline Technologies Corp. in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Esterline Technologies Corp. currently has a consensus rating of “Hold” and a consensus target price of $83.33.

In other news, insider Gary J. Posner sold 2,389 shares of Esterline Technologies Corp. stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $92.90, for a total value of $221,938.10. Following the transaction, the insider now owns 3,187 shares in the company, valued at $296,072.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary J. Posner sold 4,900 shares of the business’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $87.60, for a total value of $429,240.00. Following the transaction, the insider now owns 4,024 shares in the company, valued at approximately $352,502.40. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

About Esterline Technologies Corp.

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. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.

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