Barrow Hanley Mewhinney & Strauss LLC trimmed its holdings in shares of Esterline Technologies Co. (NYSE:ESL) by 35.6% in the fourth quarter, HoldingsChannel reports. The firm owned 55,601 shares of the aerospace company’s stock after selling 30,770 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Esterline Technologies were worth $4,153,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Esterline Technologies by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock valued at $104,000 after purchasing an additional 133 shares in the last quarter. LSV Asset Management acquired a new stake in Esterline Technologies during the 4th quarter valued at $112,000. Dowling & Yahnke LLC acquired a new stake in Esterline Technologies during the 4th quarter valued at $217,000. Dynamic Technology Lab Private Ltd acquired a new stake in Esterline Technologies during the 2nd quarter valued at $285,000. Finally, ING Groep NV increased its holdings in Esterline Technologies by 23.2% during the 4th quarter. ING Groep NV now owns 3,981 shares of the aerospace company’s stock valued at $297,000 after purchasing an additional 750 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Esterline Technologies Co. (NYSE ESL) opened at $75.70 on Thursday. The company has a market capitalization of $2,242.50, a price-to-earnings ratio of 34.10, a PEG ratio of 1.65 and a beta of 1.36. Esterline Technologies Co. 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.
Esterline Technologies (NYSE:ESL) last released its earnings results on Thursday, February 1st. The aerospace company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $482.30 million during the quarter, compared to analysts’ expectations of $459.38 million. Esterline Technologies had a return on equity of 6.89% and a net margin of 3.31%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.82 EPS. sell-side analysts predict that Esterline Technologies Co. will post 3.81 earnings per share for the current fiscal year.
In related news, Director Nils Larsen acquired 1,450 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average cost of $70.10 per share, with a total value of $101,645.00. Following the completion of the purchase, the director now directly owns 4,140 shares in the company, valued at $290,214. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hawkeye Fund Fpa sold 6,000 shares of Esterline Technologies stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $75.63, for a total value of $453,780.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on ESL shares. ValuEngine cut Esterline Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. SunTrust Banks cut Esterline Technologies from a “buy” rating to a “hold” rating and set a $106.00 price target for the company. in a report on Friday, November 10th. Drexel Hamilton cut Esterline Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Canaccord Genuity lowered their target price on Esterline Technologies from $92.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, November 10th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $70.00 target price (down from $100.00) on shares of Esterline Technologies in a research note on Tuesday, December 12th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $79.71.
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About Esterline Technologies
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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