Esterline Technologies Corp. (ESL) Trading Up 5%
Esterline Technologies Corp. (NYSE:ESL)’s share price was up 5% on Monday . The stock traded as high as $74.75 and last traded at $74.11, with a volume of 570,015 shares changing hands. The stock had previously closed at $70.55.
Several equities analysts have recently weighed in on ESL shares. Goldman Sachs Group Inc. cut their target price on Esterline Technologies Corp. from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Monday, May 9th. Zacks Investment Research raised Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Monday, May 9th. Drexel Hamilton raised Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday. Canaccord Genuity reaffirmed a “hold” rating and issued a $75.00 price objective on shares of Esterline Technologies Corp. in a research report on Wednesday, May 11th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Esterline Technologies Corp. in a research report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $82.25.
The stock has a 50-day moving average price of $64.03 and a 200-day moving average price of $63.85. The stock has a market cap of $2.16 billion and a price-to-earnings ratio of 45.48.
Esterline Technologies Corp. (NYSE:ESL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.38 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.10. The company had revenue of $517.10 million for the quarter, compared to analysts’ expectations of $490.37 million. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, analysts forecast that Esterline Technologies Corp. will post $4.50 earnings per share for the current fiscal year.
In related news, major shareholder Select Drawdown Fund L.P. Fpa acquired 5,340 shares of Esterline Technologies Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were purchased at an average price of $59.83 per share, for a total transaction of $319,492.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert David George sold 20,800 shares of Esterline Technologies Corp. stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $67.06, for a total value of $1,394,848.00. Following the transaction, the chief financial officer now owns 16,278 shares in the company, valued at approximately $1,091,602.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Esterline Technologies Corp. stock. Principal Financial Group Inc. increased its position in Esterline Technologies Corp. (NYSE:ESL) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 195,651 shares of the company’s stock after buying an additional 3,251 shares during the period. Principal Financial Group Inc. owned 0.66% of Esterline Technologies Corp. worth $15,848,000 as of its most recent SEC filing.
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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