Franklin Resources Inc. lifted its stake in shares of Esterline Technologies Corporation (NYSE:ESL) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 570,700 shares of the aerospace company’s stock after purchasing an additional 22,700 shares during the quarter. Franklin Resources Inc. owned about 1.92% of Esterline Technologies Corporation worth $54,102,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in ESL. BlackRock Inc. raised its position in shares of Esterline Technologies Corporation by 25,619.9% during the 1st quarter. BlackRock Inc. now owns 3,502,276 shares of the aerospace company’s stock worth $301,371,000 after purchasing an additional 3,488,659 shares during the period. Principal Financial Group Inc. raised its position in shares of Esterline Technologies Corporation by 212.3% during the 2nd quarter. Principal Financial Group Inc. now owns 378,783 shares of the aerospace company’s stock worth $35,908,000 after purchasing an additional 257,500 shares during the period. Vanguard Group Inc. raised its position in shares of Esterline Technologies Corporation by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 2,431,429 shares of the aerospace company’s stock worth $209,225,000 after purchasing an additional 139,687 shares during the period. AQR Capital Management LLC raised its position in shares of Esterline Technologies Corporation by 33.0% during the 1st quarter. AQR Capital Management LLC now owns 510,732 shares of the aerospace company’s stock worth $43,948,000 after purchasing an additional 126,686 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Esterline Technologies Corporation by 253.4% during the 1st quarter. Prudential Financial Inc. now owns 167,974 shares of the aerospace company’s stock worth $14,455,000 after purchasing an additional 120,440 shares during the period. Institutional investors and hedge funds own 92.66% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Franklin Resources Inc. Increases Stake in Esterline Technologies Corporation (ESL)” was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/09/15/franklin-resources-inc-increases-stake-in-esterline-technologies-corporation-esl.html.

In other news, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $96.50, for a total value of $749,805.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by insiders.

A number of analysts have recently weighed in on ESL shares. BidaskClub cut Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC reiterated a “hold” rating and set a $92.00 price target on shares of Esterline Technologies Corporation in a research report on Tuesday, July 25th. Credit Suisse Group cut Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $106.00 to $100.00 in a research report on Friday, August 4th. Zacks Investment Research cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $90.00 price target on shares of Esterline Technologies Corporation in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $94.00.

Shares of Esterline Technologies Corporation (NYSE:ESL) opened at 85.55 on Friday. The company has a 50-day moving average price of $86.76 and a 200 day moving average price of $90.89. Esterline Technologies Corporation has a 52-week low of $69.85 and a 52-week high of $102.70. The firm has a market capitalization of $2.56 billion, a PE ratio of 19.06 and a beta of 1.45.

Esterline Technologies Corporation (NYSE:ESL) last released its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.22). The company had revenue of $503.80 million for the quarter, compared to analyst estimates of $522.38 million. Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.38 earnings per share. Analysts expect that Esterline Technologies Corporation will post $4.64 EPS for the current fiscal year.

About Esterline Technologies Corporation

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.

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

Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.