Esterline Technologies Co. (NYSE:ESL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. 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. The Company serves aerospace and defense customers. The Company’s Avionics & Controls business segment includes avionics systems, control and communication systems, and interface technologies capabilities. The Company’s Sensors & Systems business segment includes power systems, connection technologies and advanced sensors capabilities. The Company’s Advanced Materials business segment includes engineered materials and defense technologies capabilities. It designs and manufactures ruggedized military personal communication equipment, primarily headsets, handsets and field communications. “
Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Esterline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Canaccord Genuity reiterated a “hold” rating and set a $90.00 price target on shares of Esterline Technologies in a research note on Thursday, June 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $92.00 price target on shares of Esterline Technologies in a research note on Tuesday, July 25th. BidaskClub upgraded shares of Esterline Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group downgraded shares of Esterline Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $106.00 to $100.00 in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $92.67.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.22). Esterline Technologies had a return on equity of 7.43% and a net margin of 6.27%. The business had revenue of $503.80 million for the quarter, compared to analyst estimates of $522.38 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis.
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In other news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $91.04, for a total value of $693,815.84. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Lord Abbett & CO. LLC acquired a new stake in shares of Esterline Technologies in the 2nd quarter valued at $26,478,000. Phocas Financial Corp. boosted its stake in shares of Esterline Technologies by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 120,744 shares of the aerospace company’s stock valued at $11,447,000 after purchasing an additional 5,382 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Esterline Technologies in the 2nd quarter valued at $285,000. WINTON GROUP Ltd boosted its stake in shares of Esterline Technologies by 122.2% in the 2nd quarter. WINTON GROUP Ltd now owns 77,719 shares of the aerospace company’s stock valued at $7,368,000 after purchasing an additional 42,742 shares in the last quarter. Finally, 1st Global Advisors Inc. acquired a new stake in shares of Esterline Technologies in the 2nd quarter valued at $736,000. Institutional investors own 92.18% of the company’s stock.
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.
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