Zacks Investment Research upgraded shares of Esterline Technologies (NYSE:ESL) from a sell rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Esterline Corporation is a specialized manufacturing company serving principally aerospace and defense markets. Esterline views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit displays and integration systems and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment interconnect solutions, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies including high-performance elastomer products used for a wide range of military and commercial aerospace purposes. “

ESL has been the subject of a number of other research reports. ValuEngine raised shares of Esterline Technologies from a hold rating to a buy rating in a research note on Friday, September 14th. Alembic Global Advisors started coverage on shares of Esterline Technologies in a research note on Friday, October 5th. They set an overweight rating for the company. Jefferies Financial Group set a $123.00 target price on shares of Esterline Technologies and gave the stock a hold rating in a research note on Wednesday, November 21st. Barclays raised shares of Esterline Technologies from an underweight rating to an equal weight rating and set a $120.91 target price for the company in a research note on Sunday, December 9th. Finally, Credit Suisse Group raised shares of Esterline Technologies from an underperform rating to a neutral rating and lifted their target price for the stock from $66.00 to $122.50 in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $103.11.

Shares of NYSE ESL opened at $121.49 on Wednesday. Esterline Technologies has a twelve month low of $67.15 and a twelve month high of $122.00. The firm has a market cap of $3.58 billion, a P/E ratio of 29.13, a PEG ratio of 2.64 and a beta of 0.62. The company has a quick ratio of 2.10, a current ratio of 3.24 and a debt-to-equity ratio of 0.36.

Esterline Technologies (NYSE:ESL) last announced its earnings results on Tuesday, November 20th. The aerospace company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.49. Esterline Technologies had a net margin of 3.45% and a return on equity of 6.85%. The business had revenue of $535.30 million during the quarter, compared to the consensus estimate of $534.09 million. During the same quarter last year, the firm earned $1.27 earnings per share. Esterline Technologies’s quarterly revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Esterline Technologies will post 4.82 EPS for the current fiscal year.

In other Esterline Technologies news, EVP Roger Alan Ross sold 14,590 shares of Esterline Technologies stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $121.29, for a total value of $1,769,621.10. Following the completion of the sale, the executive vice president now directly owns 12,454 shares of the company’s stock, valued at $1,510,545.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian D. Reid sold 4,500 shares of Esterline Technologies stock in a transaction on Friday, December 7th. The shares were sold at an average price of $121.69, for a total transaction of $547,605.00. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $243,380. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,076 shares of company stock valued at $27,457,271. Insiders own 1.30% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of ESL. Bank of Montreal Can increased its stake in Esterline Technologies by 762.4% in the second quarter. Bank of Montreal Can now owns 20,664 shares of the aerospace company’s stock valued at $1,525,000 after purchasing an additional 18,268 shares in the last quarter. Alps Advisors Inc. increased its stake in Esterline Technologies by 10.5% in the second quarter. Alps Advisors Inc. now owns 14,062 shares of the aerospace company’s stock valued at $1,038,000 after purchasing an additional 1,335 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Esterline Technologies in the second quarter valued at $516,000. Boston Partners bought a new stake in Esterline Technologies in the second quarter valued at $995,000. Finally, Bank of New York Mellon Corp increased its stake in Esterline Technologies by 11.2% in the second quarter. Bank of New York Mellon Corp now owns 676,782 shares of the aerospace company’s stock valued at $49,947,000 after purchasing an additional 67,892 shares in the last quarter. 98.48% of the stock is owned by hedge funds and other institutional investors.

About Esterline Technologies

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Avionics & Controls segment offers global positioning systems, head-up displays, enhanced vision systems, and electronic flight management systems for control and display applications; lighted push-button and rotary switches, keyboards, lighted indicators, panels, and displays; and control sticks, grips, wheels, and switching systems.

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