Prudential PLC lowered its holdings in shares of Esterline Technologies Corporation (NYSE:ESL) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,700 shares of the aerospace company’s stock after selling 71,100 shares during the quarter. Prudential PLC owned approximately 1.02% of Esterline Technologies Corporation worth $28,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in Esterline Technologies Corporation by 12.0% during the second quarter. Goldman Sachs Group Inc. now owns 935,158 shares of the aerospace company’s stock worth $88,653,000 after purchasing an additional 100,543 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. purchased a new position in Esterline Technologies Corporation during the second quarter worth approximately $226,000. Stifel Financial Corp boosted its position in Esterline Technologies Corporation by 38.8% during the second quarter. Stifel Financial Corp now owns 136,738 shares of the aerospace company’s stock worth $12,971,000 after purchasing an additional 38,227 shares in the last quarter. Voya Investment Management LLC boosted its position in Esterline Technologies Corporation by 27.2% during the second quarter. Voya Investment Management LLC now owns 131,616 shares of the aerospace company’s stock worth $12,477,000 after purchasing an additional 28,148 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in Esterline Technologies Corporation by 10.3% during the second quarter. Virtu KCG Holdings LLC now owns 4,441 shares of the aerospace company’s stock worth $421,000 after purchasing an additional 415 shares in the last quarter. Institutional investors own 92.18% of the company’s stock.

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In related news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $91.04, for a total value of $693,815.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.

Esterline Technologies Corporation (NYSE ESL) traded up 0.53% during trading on Thursday, hitting $94.10. The stock had a trading volume of 33,228 shares. The firm has a market cap of $2.82 billion, a P/E ratio of 20.97 and a beta of 1.49. The stock’s 50 day moving average price is $86.67 and its 200 day moving average price is $91.10. Esterline Technologies Corporation has a 12-month low of $69.85 and a 12-month high of $102.70.

Esterline Technologies Corporation (NYSE:ESL) last released its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $522.38 million. During the same quarter in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts anticipate that Esterline Technologies Corporation will post $4.64 EPS for the current fiscal year.

A number of equities analysts have issued reports on ESL shares. Zacks Investment Research downgraded Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub downgraded Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. 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. Credit Suisse Group downgraded Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $106.00 to $100.00 in a research report on Friday, August 4th. Finally, Seaport Global Securities started coverage on Esterline Technologies Corporation in a research report on Tuesday, September 12th. They set a “neutral” rating and a $93.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $92.67.

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)

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