Esterline Technologies Co. (ESL) Holdings Trimmed by Teachers Retirement System of The State of Kentucky

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Teachers Retirement System of The State of Kentucky lessened its stake in shares of Esterline Technologies Co. (NYSE:ESL) by 15.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,330 shares of the aerospace company’s stock after selling 800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Esterline Technologies were worth $394,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CHICAGO TRUST Co NA purchased a new position in Esterline Technologies during the 3rd quarter valued at about $240,000. First Hawaiian Bank purchased a new position in shares of Esterline Technologies during the third quarter worth about $304,000. First Washington CORP purchased a new position in shares of Esterline Technologies during the second quarter worth about $306,000. Parametrica Management Ltd purchased a new position in shares of Esterline Technologies during the third quarter worth about $370,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Esterline Technologies during the second quarter worth about $516,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently commented on ESL. Zacks Investment Research raised Esterline Technologies from a “sell” rating to a “hold” rating in a report on Thursday. Barclays raised Esterline Technologies from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $76.00 to $123.00 in a report on Monday, December 3rd. Jefferies Financial Group set a $123.00 price objective on Esterline Technologies and gave the stock a “hold” rating in a report on Wednesday, November 21st. ValuEngine raised Esterline Technologies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 21st. Finally, Canaccord Genuity boosted their price objective on Esterline Technologies from $85.00 to $122.50 and gave the stock a “hold” rating in a report on Wednesday, November 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $103.38.

In related news, major shareholder Fpa Funds Trust sold 110,935 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $117.52, for a total value of $13,037,081.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Pacific Advisors Lp First sold 99,629 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $117.45, for a total value of $11,701,426.05. The disclosure for this sale can be found here. Insiders sold a total of 213,986 shares of company stock valued at $25,140,045 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Shares of NYSE ESL opened at $121.74 on Friday. Esterline Technologies Co. has a 12 month low of $67.15 and a 12 month high of $122.00. The company has a quick ratio of 2.10, a current ratio of 3.24 and a debt-to-equity ratio of 0.36. The stock has a market cap of $3.59 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.65 and a beta of 0.62.

Esterline Technologies (NYSE:ESL) last released its earnings results on Tuesday, November 20th. The aerospace company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.49. The company had revenue of $535.30 million during the quarter, compared to the consensus estimate of $534.09 million. Esterline Technologies had a return on equity of 6.85% and a net margin of 3.45%. Esterline Technologies’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. Sell-side analysts anticipate that Esterline Technologies Co. will post 4.82 EPS for the current year.

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About Esterline Technologies

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

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