Esterline Technologies (ESL) Sees Large Volume Increase

Esterline Technologies Co. (NYSE:ESL) shares saw an uptick in trading volume on Thursday . 103,095 shares traded hands during trading, a decline of 54% from the previous session’s volume of 224,529 shares.The stock last traded at $115.47 and had previously closed at $115.41.

Several brokerages have recently commented on ESL. Credit Suisse Group upgraded shares of Esterline Technologies from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $66.00 to $122.50 in a research note on Thursday. Alembic Global Advisors began coverage on shares of Esterline Technologies in a research note on Friday, October 5th. They set an “overweight” rating on the stock. Jefferies Financial Group restated a “hold” rating and set a $92.00 price target on shares of Esterline Technologies in a research note on Friday, August 3rd. TheStreet upgraded shares of Esterline Technologies from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Finally, Canaccord Genuity increased their price target on shares of Esterline Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Esterline Technologies currently has an average rating of “Hold” and an average target price of $88.94.

The company has a market capitalization of $2.68 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.21. The company has a current ratio of 3.39, a quick ratio of 2.12 and a debt-to-equity ratio of 0.41.

Esterline Technologies (NYSE:ESL) last posted its earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. Esterline Technologies had a net margin of 2.62% and a return on equity of 5.91%. The business had revenue of $499.90 million for the quarter, compared to analyst estimates of $476.01 million. During the same period last year, the business posted $1.08 EPS. Esterline Technologies’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that Esterline Technologies Co. will post 3.73 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ESL. Summit Trail Advisors LLC grew its stake in Esterline Technologies by 6,585.3% in the 1st quarter. Summit Trail Advisors LLC now owns 210,787 shares of the aerospace company’s stock valued at $211,000 after buying an additional 207,634 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Esterline Technologies by 11.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 676,782 shares of the aerospace company’s stock valued at $49,947,000 after buying an additional 67,892 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Esterline Technologies in the 2nd quarter valued at $4,733,000. Point72 Asset Management L.P. grew its stake in Esterline Technologies by 609.5% in the 1st quarter. Point72 Asset Management L.P. now owns 74,500 shares of the aerospace company’s stock valued at $5,450,000 after buying an additional 64,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Esterline Technologies in the 2nd quarter valued at $3,395,000. Institutional investors and hedge funds own 94.22% of the company’s stock.

Esterline Technologies Company Profile (NYSE:ESL)

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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