Advisors Asset Management Inc. Sells 3,901 Shares of Esterline Technologies Co. (ESL)

Advisors Asset Management Inc. lowered its holdings in Esterline Technologies Co. (NYSE:ESL) by 17.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,067 shares of the aerospace company’s stock after selling 3,901 shares during the period. Advisors Asset Management Inc. owned approximately 0.06% of Esterline Technologies worth $1,333,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY increased its position in shares of Esterline Technologies by 5.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,375 shares of the aerospace company’s stock worth $1,135,000 after acquiring an additional 840 shares in the last quarter. American Century Companies Inc. increased its position in shares of Esterline Technologies by 0.4% in the second quarter. American Century Companies Inc. now owns 246,602 shares of the aerospace company’s stock worth $18,199,000 after acquiring an additional 873 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Esterline Technologies by 10.5% in the second quarter. Alps Advisors Inc. now owns 14,062 shares of the aerospace company’s stock worth $1,038,000 after acquiring an additional 1,335 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Esterline Technologies by 4.5% in the second quarter. Russell Investments Group Ltd. now owns 41,220 shares of the aerospace company’s stock worth $3,042,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Cove Street Capital LLC increased its position in shares of Esterline Technologies by 0.9% in the second quarter. Cove Street Capital LLC now owns 212,205 shares of the aerospace company’s stock worth $15,661,000 after acquiring an additional 1,905 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

In other news, major shareholder Pacific Advisors Lp First sold 3,422 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $117.34, for a total value of $401,537.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Shares of ESL stock opened at $117.36 on Thursday. The firm has a market capitalization of $3.45 billion, a PE ratio of 26.92, a PEG ratio of 2.20 and a beta of 1.21. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41. Esterline Technologies Co. has a twelve month low of $67.15 and a twelve month high of $119.07.

Esterline Technologies (NYSE:ESL) last announced its earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.15. The business had revenue of $499.90 million during the quarter, compared to the consensus estimate of $476.01 million. Esterline Technologies had a net margin of 2.62% and a return on equity of 5.91%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, research analysts predict that Esterline Technologies Co. will post 3.73 EPS for the current year.

Several research firms have recently issued reports on ESL. Credit Suisse Group raised shares of Esterline Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $66.00 to $122.50 in a research report on Thursday, October 11th. ValuEngine raised shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Zacks Investment Research lowered shares of Esterline Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Alembic Global Advisors started coverage on shares of Esterline Technologies in a research report on Friday, October 5th. They issued an “overweight” rating for the company. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $95.00 target price (up from $84.00) on shares of Esterline Technologies in a research note on Monday, July 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $88.94.

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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Institutional Ownership by Quarter for Esterline Technologies (NYSE:ESL)

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