Municipal Employees Retirement System of Michigan lowered its stake in shares of Esterline Technologies Corporation (NYSE:ESL) by 16.2% during the second quarter, Holdings Channel reports. The firm owned 11,490 shares of the aerospace company’s stock after selling 2,220 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Esterline Technologies Corporation were worth $1,089,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ESL. State Treasurer State of Michigan boosted its stake in Esterline Technologies Corporation by 2.5% in the first quarter. State Treasurer State of Michigan now owns 12,100 shares of the aerospace company’s stock valued at $1,041,000 after buying an additional 300 shares during the period. Prescott Group Capital Management L.L.C. boosted its stake in Esterline Technologies Corporation by 56.3% in the first quarter. Prescott Group Capital Management L.L.C. now owns 25,000 shares of the aerospace company’s stock valued at $2,151,000 after buying an additional 9,000 shares during the period. Great West Life Assurance Co. Can boosted its stake in Esterline Technologies Corporation by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 17,356 shares of the aerospace company’s stock valued at $1,492,000 after buying an additional 479 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in Esterline Technologies Corporation by 3.1% in the first quarter. Adams Diversified Equity Fund Inc. now owns 13,300 shares of the aerospace company’s stock valued at $1,144,000 after buying an additional 400 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in Esterline Technologies Corporation by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,279 shares of the aerospace company’s stock valued at $885,000 after buying an additional 100 shares during the period. 90.22% of the stock is currently owned by institutional investors.

Esterline Technologies Corporation (NYSE ESL) opened at 86.25 on Friday. The company has a market cap of $2.59 billion, a P/E ratio of 19.22 and a beta of 1.43. The firm has a 50-day moving average price of $95.26 and a 200-day moving average price of $91.56. Esterline Technologies Corporation has a 12-month low of $69.55 and a 12-month high of $102.70.

Esterline Technologies Corporation (NYSE:ESL) last posted its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by $0.22. The firm had revenue of $503.80 million for the quarter, compared to analysts’ expectations of $522.38 million. Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, analysts forecast that Esterline Technologies Corporation will post $4.71 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Esterline Technologies Corporation (NYSE:ESL) Position Decreased by Municipal Employees Retirement System of Michigan” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/esterline-technologies-corporation-nyseesl-position-decreased-by-municipal-employees-retirement-system-of-michigan/1472164.html.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. BidaskClub raised Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Credit Suisse Group cut Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $106.00 to $100.00 in a research report on Friday, August 4th. Canaccord Genuity increased their price objective on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $92.00 price objective on shares of Esterline Technologies Corporation in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Esterline Technologies Corporation has an average rating of “Hold” and a consensus price target of $93.00.

In other news, CFO Robert David George sold 26,700 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $93.46, for a total value of $2,495,382.00. Following the completion of the transaction, the chief financial officer now owns 29,960 shares of the company’s stock, valued at approximately $2,800,061.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Albert S. Yost sold 6,700 shares of the business’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $92.61, for a total value of $620,487.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,170 shares of company stock valued at $3,865,674. 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.

Want to see what other hedge funds are holding ESL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Esterline Technologies Corporation (NYSE:ESL).

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

Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.