Esterline Technologies Corp. (ESL) Sees Strong Trading Volume
Esterline Technologies Corp. (NYSE:ESL) shares saw an uptick in trading volume on Monday . 172,070 shares were traded during trading, an increase of 32% from the previous session’s volume of 130,129 shares.The stock last traded at $60.84 and had previously closed at $60.83.
Several brokerages have weighed in on ESL. Zacks Investment Research lowered shares of Esterline Technologies Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Canaccord Genuity reaffirmed a “hold” rating and issued a $75.00 price target on shares of Esterline Technologies Corp. in a report on Wednesday, May 11th. Finally, Goldman Sachs Group Inc. decreased their price target on shares of Esterline Technologies Corp. from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $81.71.
The stock has a market capitalization of $1.79 billion and a PE ratio of 39.65. The stock’s 50-day moving average price is $62.09 and its 200-day moving average price is $64.40.
Esterline Technologies Corp. (NYSE:ESL) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $490.30 million for the quarter, compared to analyst estimates of $466.11 million. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Esterline Technologies Corp. will post $4.44 earnings per share for the current fiscal year.
In related news, CFO Robert David George sold 20,800 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $67.06, for a total transaction of $1,394,848.00. Following the completion of the transaction, the chief financial officer now directly owns 16,278 shares in the company, valued at approximately $1,091,602.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. I.G. Investment Management LTD. boosted its position in Esterline Technologies Corp. by 19.9% in the fourth quarter. I.G. Investment Management LTD. now owns 19,300 shares of the company’s stock valued at $1,563,000 after buying an additional 3,200 shares during the last quarter. First Trust Advisors LP boosted its position in Esterline Technologies Corp. by 44.6% in the fourth quarter. First Trust Advisors LP now owns 58,377 shares of the company’s stock valued at $4,729,000 after buying an additional 18,000 shares during the last quarter. State of Wisconsin Investment Board boosted its position in Esterline Technologies Corp. by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 104,344 shares of the company’s stock valued at $8,452,000 after buying an additional 967 shares during the last quarter. Marshall Wace LLP bought a new position in Esterline Technologies Corp. during the fourth quarter valued at approximately $9,383,000. Finally, Morgan Stanley boosted its position in Esterline Technologies Corp. by 98.9% in the fourth quarter. Morgan Stanley now owns 121,860 shares of the company’s stock valued at $9,871,000 after buying an additional 60,586 shares during the last quarter.
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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