Northwestern Mutual Investment Management Company LLC lowered its position in Esterline Technologies Corp. (NYSE:ESL) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,068 shares of the company’s stock after selling 44 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Esterline Technologies Corp. were worth $314,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in Esterline Technologies Corp. by 1,817.3% in the second quarter. Alliancebernstein L.P. now owns 1,046,515 shares of the company’s stock worth $64,926,000 after buying an additional 991,933 shares in the last quarter. Franklin Resources Inc. raised 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 worth $33,887,000 after buying an additional 374,100 shares in the last quarter. First Pacific Advisors LLC raised its stake in Esterline Technologies Corp. by 5.6% in the second quarter. First Pacific Advisors LLC now owns 3,690,554 shares of the company’s stock worth $228,962,000 after buying an additional 194,831 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Esterline Technologies Corp. by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,430,396 shares of the company’s stock worth $150,776,000 after buying an additional 180,310 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Esterline Technologies Corp. by 135.7% in the second quarter. AQR Capital Management LLC now owns 258,760 shares of the company’s stock worth $16,054,000 after buying an additional 148,984 shares in the last quarter. 87.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Esterline Technologies Corp. (NYSE:ESL) opened at 74.79 on Tuesday. The company has a market capitalization of $2.20 billion, a PE ratio of 46.28 and a beta of 1.50. Esterline Technologies Corp. has a 52-week low of $45.12 and a 52-week high of $96.44. The company has a 50-day moving average of $74.97 and a 200 day moving average of $67.30.
Esterline Technologies Corp. (NYSE:ESL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.10. The firm earned $517.10 million during the quarter, compared to analyst estimates of $490.37 million. Esterline Technologies Corp. had a net margin of 2.40% and a return on equity of 6.15%. The firm’s revenue was up 6.7% on a year-over-year basis. Analysts predict that Esterline Technologies Corp. will post $4.51 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Drexel Hamilton raised 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 report on Monday, August 15th. Zacks Investment Research lowered shares of Esterline Technologies Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Jefferies Group reissued a “buy” rating and issued a $87.00 price target on shares of Esterline Technologies Corp. in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Esterline Technologies Corp. currently has a consensus rating of “Hold” and a consensus target price of $79.67.
In other news, major shareholder Select Drawdown Fund L.P. Fpa purchased 5,340 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average cost of $59.83 per share, for a total transaction of $319,492.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Albert S. Yost sold 10,800 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $76.32, for a total transaction of $824,256.00. 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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