Esterline Technologies Corporation (ESL) Shares Bought by Texas Permanent School Fund
Texas Permanent School Fund boosted its stake in shares of Esterline Technologies Corporation (NYSE:ESL) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 21,738 shares of the aerospace company’s stock after buying an additional 243 shares during the period. Texas Permanent School Fund’s holdings in Esterline Technologies Corporation were worth $2,061,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of ESL. BlackRock Inc. boosted its position in shares of Esterline Technologies Corporation by 25,619.9% in the first quarter. BlackRock Inc. now owns 3,502,276 shares of the aerospace company’s stock valued at $301,371,000 after buying an additional 3,488,659 shares during the period. Mesirow Financial Investment Management Equity Management bought a new stake in Esterline Technologies Corporation during the first quarter valued at $21,486,000. Vanguard Group Inc. raised its stake in Esterline Technologies Corporation by 6.1% in the first quarter. Vanguard Group Inc. now owns 2,431,429 shares of the aerospace company’s stock valued at $209,225,000 after buying an additional 139,687 shares in the last quarter. AQR Capital Management LLC raised its stake in Esterline Technologies Corporation by 33.0% in the first quarter. AQR Capital Management LLC now owns 510,732 shares of the aerospace company’s stock valued at $43,948,000 after buying an additional 126,686 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Esterline Technologies Corporation by 253.4% in the first quarter. Prudential Financial Inc. now owns 167,974 shares of the aerospace company’s stock valued at $14,455,000 after buying an additional 120,440 shares in the last quarter. Institutional investors own 90.22% of the company’s stock.
Shares of Esterline Technologies Corporation (ESL) opened at 86.00 on Friday. Esterline Technologies Corporation has a 1-year low of $69.85 and a 1-year high of $102.70. The stock’s 50 day moving average price is $94.97 and its 200 day moving average price is $91.57. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 19.16 and a beta of 1.43.
Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.30 by $0.22. The company had revenue of $503.80 million during the quarter, compared to analyst estimates of $522.38 million. Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. Esterline Technologies Corporation’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Analysts expect that Esterline Technologies Corporation will post $4.65 EPS for the current year.
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Several equities research analysts have recently weighed in on the company. Goldman Sachs Group, Inc. (The) lowered Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $86.00 to $75.00 in a research note on Thursday. Zacks Investment Research lowered Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Canaccord Genuity reissued a “hold” rating and set a $90.00 price objective on shares of Esterline Technologies Corporation in a research note on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price objective (down from $92.00) on shares of Esterline Technologies Corporation in a research note on Wednesday. Finally, Credit Suisse Group reissued an “outperform” rating and set a $106.00 price objective (up from $96.00) on shares of Esterline Technologies Corporation in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $93.00.
In related news, EVP Albert S. Yost sold 6,700 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $92.61, for a total value of $620,487.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Hawkeye Fund Fpa sold 7,770 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $96.50, for a total transaction of $749,805.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,170 shares of company stock valued at $3,865,674. Company insiders own 1.40% of the company’s stock.
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.
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