Virginia Retirement Systems ET AL purchased a new stake in shares of Esterline Technologies Corp. (NYSE:ESL) during the second quarter, Holdings Channel reports. The institutional investor purchased 8,400 shares of the company’s stock, valued at approximately $521,000.
Other hedge funds have also added to or reduced their stakes in the company. Virginia Retirement System acquired a new stake in Esterline Technologies Corp. during the first quarter valued at approximately $538,000. Teachers Advisors Inc. increased its stake in Esterline Technologies Corp. by 0.3% in the first quarter. Teachers Advisors Inc. now owns 51,701 shares of the company’s stock valued at $3,312,000 after buying an additional 148 shares during the period. Prudential Financial Inc. increased its stake in Esterline Technologies Corp. by 30.4% in the first quarter. Prudential Financial Inc. now owns 82,364 shares of the company’s stock valued at $5,277,000 after buying an additional 19,190 shares during the period. Franklin Resources Inc. increased its stake in Esterline Technologies Corp. by 241.7% in the first quarter. Franklin Resources Inc. now owns 528,900 shares of the company’s stock valued at $33,887,000 after buying an additional 374,100 shares during the period. Finally, BlackRock Inc. increased its stake in Esterline Technologies Corp. by 6.6% in the first quarter. BlackRock Inc. now owns 12,147 shares of the company’s stock valued at $778,000 after buying an additional 751 shares during the period. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Esterline Technologies Corp. (NYSE:ESL) opened at 75.83 on Thursday. The firm’s 50-day moving average is $75.86 and its 200-day moving average is $67.86. Esterline Technologies Corp. has a 12 month low of $45.12 and a 12 month high of $96.44. The stock has a market cap of $2.23 billion, a P/E ratio of 46.92 and a beta of 1.23.
Esterline Technologies Corp. (NYSE:ESL) last released its earnings results on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.10. Esterline Technologies Corp. had a return on equity of 6.15% and a net margin of 2.40%. The company had revenue of $517.10 million for the quarter, compared to analysts’ expectations of $490.37 million. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Esterline Technologies Corp. will post $4.51 earnings per share for the current fiscal year.
ESL has been the subject of several research reports. Zacks Investment Research downgraded shares of Esterline Technologies Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Jefferies Group reiterated a “buy” rating and issued a $87.00 price target on shares of Esterline Technologies Corp. in a research report on Friday, August 5th. Finally, Drexel Hamilton upgraded shares of Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, August 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $81.17.
In other Esterline Technologies Corp. news, EVP Albert S. Yost sold 10,800 shares of Esterline Technologies Corp. stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $76.32, for a total transaction of $824,256.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Select Drawdown Fund L.P. Fpa bought 5,340 shares of the stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average cost of $59.83 per share, for a total transaction of $319,492.20. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.
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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