Bank of America Raises Esterline Technologies (ESL) Price Target to $75.00
Esterline Technologies (NYSE:ESL) had its target price lifted by Bank of America from $70.00 to $75.00 in a research note issued to investors on Tuesday. The firm currently has an underperform rating on the aerospace company’s stock.
ESL has been the subject of a number of other reports. SunTrust Banks reissued a buy rating on shares of Esterline Technologies in a report on Thursday, October 12th. ValuEngine downgraded Esterline Technologies from a buy rating to a hold rating in a report on Thursday, November 9th. Jefferies Group reissued a hold rating and issued a $83.00 price target on shares of Esterline Technologies in a report on Monday, January 8th. Credit Suisse Group downgraded Esterline Technologies from a neutral rating to an underperform rating in a report on Friday, January 12th. Finally, Drexel Hamilton downgraded Esterline Technologies from a buy rating to a hold rating in a report on Friday, November 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $79.71.
Shares of Esterline Technologies (NYSE ESL) opened at $69.95 on Tuesday. The company has a market capitalization of $2,059.72, a P/E ratio of 31.51, a P/E/G ratio of 1.51 and a beta of 1.36. Esterline Technologies has a 52-week low of $67.15 and a 52-week high of $102.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.46 and a quick ratio of 2.11.
In other Esterline Technologies news, major shareholder Hawkeye Fund Fpa sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $75.63, for a total value of $453,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Curtis C. Reusser bought 2,900 shares of Esterline Technologies stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average cost of $70.00 per share, with a total value of $203,000.00. Following the completion of the purchase, the chairman now owns 39,199 shares in the company, valued at $2,743,930. The disclosure for this purchase can be found here. Insiders acquired 6,800 shares of company stock valued at $479,015 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in ESL. Lord Abbett & CO. LLC acquired a new position in shares of Esterline Technologies during the 2nd quarter worth approximately $26,478,000. American Century Companies Inc. raised its stake in shares of Esterline Technologies by 4,287.4% during the 4th quarter. American Century Companies Inc. now owns 242,359 shares of the aerospace company’s stock worth $18,104,000 after buying an additional 236,835 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Esterline Technologies during the 3rd quarter worth approximately $18,677,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Esterline Technologies during the 3rd quarter worth approximately $18,030,000. Finally, Walthausen & Co. LLC acquired a new position in shares of Esterline Technologies during the 2nd quarter worth approximately $12,599,000. 92.59% of the stock is owned by institutional investors and hedge funds.
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Esterline Technologies 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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