Janney Montgomery Scott LLC Acquires 170 Shares of Esterline Technologies Corporation (NYSE:ESL)
Janney Montgomery Scott LLC raised its stake in shares of Esterline Technologies Corporation (NYSE:ESL) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 12,394 shares of the aerospace company’s stock after buying an additional 170 shares during the period. Janney Montgomery Scott LLC’s holdings in Esterline Technologies Corporation were worth $1,175,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Janney Capital Management LLC boosted its stake in shares of Esterline Technologies Corporation by 0.3% in the second quarter. Janney Capital Management LLC now owns 4,515 shares of the aerospace company’s stock valued at $428,000 after buying an additional 15 shares in the last quarter. Boston Financial Mangement LLC raised its stake in Esterline Technologies Corporation by 5.3% in the second quarter. Boston Financial Mangement LLC now owns 75,107 shares of the aerospace company’s stock worth $7,120,000 after buying an additional 3,813 shares during the period. ING Groep NV purchased a new stake in Esterline Technologies Corporation during the second quarter worth $343,000. Acadian Asset Management LLC purchased a new stake in Esterline Technologies Corporation during the second quarter worth $1,624,000. Finally, Oakbrook Investments LLC purchased a new stake in Esterline Technologies Corporation during the second quarter worth $209,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.
Esterline Technologies Corporation (ESL) opened at 86.00 on Friday. The stock’s 50 day moving average is $94.97 and its 200-day moving average is $91.57. Esterline Technologies Corporation has a 1-year low of $69.85 and a 1-year high of $102.70. The company has a market capitalization of $2.58 billion, a P/E ratio of 19.16 and a beta of 1.43.
Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.30 by $0.22. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The business had revenue of $503.80 million for the quarter, compared to analysts’ expectations of $522.38 million. During the same period in the previous year, the company earned $1.38 earnings per share. Esterline Technologies Corporation’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts expect that Esterline Technologies Corporation will post $4.65 earnings per share for the current fiscal year.
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ESL has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “hold” rating and issued a $90.00 price objective on shares of Esterline Technologies Corporation in a research report on Monday, May 15th. Credit Suisse Group reissued an “outperform” rating and issued a $106.00 price objective (up from $96.00) on shares of Esterline Technologies Corporation in a research report on Friday, May 5th. Zacks Investment Research lowered shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Goldman Sachs Group, Inc. (The) lowered shares of Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research report on Thursday. Finally, BidaskClub lowered shares of Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $93.00.
In other Esterline Technologies Corporation news, CFO Robert David George sold 26,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $93.46, for a total transaction of $2,495,382.00. Following the completion of the transaction, the chief financial officer now owns 29,960 shares in the company, valued at approximately $2,800,061.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Albert S. Yost sold 6,700 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $92.61, for a total transaction of $620,487.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,170 shares of company stock worth $3,865,674. 1.40% of the stock is owned by insiders.
Esterline Technologies Corporation 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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