Panagora Asset Management Inc. grew its position in shares of Esterline Technologies Co. (NYSE:ESL) by 320.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,075 shares of the aerospace company’s stock after purchasing an additional 13,779 shares during the quarter. Panagora Asset Management Inc.’s holdings in Esterline Technologies were worth $1,644,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Walthausen & Co. LLC bought a new position in shares of Esterline Technologies during the 3rd quarter valued at about $9,850,000. DekaBank Deutsche Girozentrale increased its position in shares of Esterline Technologies by 193.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,172 shares of the aerospace company’s stock valued at $100,000 after purchasing an additional 772 shares during the last quarter. FMR LLC increased its position in shares of Esterline Technologies by 1,024.5% during the 3rd quarter. FMR LLC now owns 172,843 shares of the aerospace company’s stock valued at $15,720,000 after purchasing an additional 157,472 shares during the last quarter. American International Group Inc. increased its position in shares of Esterline Technologies by 3.0% during the 3rd quarter. American International Group Inc. now owns 70,748 shares of the aerospace company’s stock valued at $6,435,000 after purchasing an additional 2,060 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Esterline Technologies by 0.8% during the 3rd quarter. BlackRock Inc. now owns 3,786,020 shares of the aerospace company’s stock valued at $344,337,000 after purchasing an additional 28,623 shares during the last quarter. Hedge funds and other institutional investors own 98.48% of the company’s stock.
Several equities analysts recently issued reports on ESL shares. ValuEngine upgraded Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Alembic Global Advisors started coverage on Esterline Technologies in a research report on Friday, October 5th. They set an “overweight” rating on the stock. Jefferies Financial Group set a $123.00 price target on Esterline Technologies and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Barclays upgraded Esterline Technologies from an “underweight” rating to an “equal weight” rating and set a $120.91 price target on the stock in a research report on Sunday, December 9th. Finally, Zacks Investment Research upgraded Esterline Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Esterline Technologies has an average rating of “Hold” and an average target price of $103.11.
ESL opened at $121.49 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.10 and a current ratio of 3.24. Esterline Technologies Co. has a 1 year low of $67.15 and a 1 year high of $122.00. The company has a market cap of $3.58 billion, a P/E ratio of 29.20, a P/E/G ratio of 2.64 and a beta of 0.62.
Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Tuesday, November 20th. The aerospace company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.49. Esterline Technologies had a return on equity of 6.85% and a net margin of 3.45%. The business had revenue of $535.30 million for the quarter, compared to analyst estimates of $534.09 million. During the same period last year, the company earned $1.27 EPS. Esterline Technologies’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts forecast that Esterline Technologies Co. will post 4.82 earnings per share for the current fiscal year.
Esterline Technologies Company Profile
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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