First Pacific Advisors, LLC

stated that they own 10.4% of Esterline Technologies Co. (NYSE:ESL) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, January 3rd. The investor owns 3,084,985 shares of the stock worth about $233,379,115. The reporting parties listed on the disclosure included First Pacific Advisors, LLC, FPA Crescent Fund, a series of FPA Funds Trust, FPA Global Opportunity Fund, a series of FPA Hawkeye Fund, LLC, FPA Select Drawdown Fund, LP, FPA Select Fund, LP, FPA Value Partners Fund, a series of FPA Hawkeye Fund, LLC, FPA Hawkeye Fund, a series of FPA Hawkeye Fund, LLC, FPA Hawkeye7 Fund, a series of FPA Hawkeye Fund, LLC, J Richard Atwood, Steven T Romick, Brian A Selmo and Mark Landecker. The filing is available through Edgar at this hyperlink.

A number of other institutional investors have also modified their holdings of ESL. Lord Abbett & CO. LLC acquired a new stake in shares of Esterline Technologies in the 2nd quarter worth $26,478,000. Principal Financial Group Inc. lifted its stake in shares of Esterline Technologies by 212.3% in the 2nd quarter. Principal Financial Group Inc. now owns 378,783 shares of the aerospace company’s stock worth $35,908,000 after acquiring an additional 257,500 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Esterline Technologies in the 3rd quarter worth $18,677,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Esterline Technologies in the 3rd quarter worth $18,030,000. Finally, Walthausen & Co. LLC acquired a new stake in shares of Esterline Technologies in the 2nd quarter worth $12,599,000. 91.20% of the stock is currently owned by institutional investors.

Shares of Esterline Technologies Co. (ESL) traded down $0.15 during midday trading on Wednesday, hitting $75.65. 146,727 shares of the company traded hands, compared to its average volume of 157,750. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.25 and a quick ratio of 2.03. Esterline Technologies Co. has a 12-month low of $68.30 and a 12-month high of $102.70. The firm has a market capitalization of $2,270.00, a PE ratio of 18.23, a price-to-earnings-growth ratio of 1.60 and a beta of 1.43.

Esterline Technologies (NYSE:ESL) last announced its quarterly earnings data on Thursday, November 9th. The aerospace company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.26). Esterline Technologies had a net margin of 5.86% and a return on equity of 7.68%. The company had revenue of $531.50 million during the quarter, compared to analyst estimates of $540.55 million. During the same quarter last year, the business earned $1.96 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. research analysts forecast that Esterline Technologies Co. will post 3.85 earnings per share for the current fiscal year.

In other Esterline Technologies news, major shareholder J Richard Atwood sold 31,155 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $96.04, for a total transaction of $2,992,126.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Curtis C. Reusser bought 2,900 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were acquired at an average price of $70.00 per share, with a total value of $203,000.00. Following the completion of the acquisition, the chairman now directly owns 39,199 shares in the company, valued at approximately $2,743,930. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 6,800 shares of company stock valued at $479,015 and have sold 268,290 shares valued at $25,452,666. Company insiders own 1.30% of the company’s stock.

ESL has been the subject of several recent analyst reports. Canaccord Genuity reduced their price objective on shares of Esterline Technologies from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, November 10th. Seaport Global Securities initiated coverage on shares of Esterline Technologies in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $93.00 price objective for the company. Credit Suisse Group reiterated a “neutral” rating and issued a $70.00 price objective (down previously from $100.00) on shares of Esterline Technologies in a research note on Tuesday, December 12th. ValuEngine upgraded shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Zacks Investment Research upgraded shares of Esterline Technologies from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Esterline Technologies currently has an average rating of “Hold” and an average price target of $85.33.

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

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