Esterline Technologies (NYSE:ESL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Esterline Corporation is a specialized manufacturing company serving principally aerospace and defense markets. Esterline views the company’s businesses in three segments related to its set of core competencies: Avionics & Controls, Sensors & Systems, and Advanced Materials. Avionics & Controls segment focus on technology interface systems for commercial and military aircraft and similar devices for land- and sea-based military vehicles, cockpit displays and integration systems and other high-end industrial applications. The Sensors & Systems segment includes operations that produce high-precision temperature and pressure sensors, specialized harsh-environment interconnect solutions, electrical power distribution equipment, and other related systems principally for aerospace and defense customers. Advanced Materials focuses on process-related technologies including high-performance elastomer products used for a wide range of military and commercial aerospace purposes. “
Get Esterline Technologies alerts:Separately, Barclays assumed coverage on Esterline Technologies in a research note on Thursday, March 29th. They issued an “underweight” rating and a $76.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $79.78.
Shares of Esterline Technologies traded up $0.05, reaching $74.65, on Tuesday, Marketbeat reports. The stock had a trading volume of 91,500 shares, compared to its average volume of 200,783. The company has a market cap of $2.21 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. Esterline Technologies has a 1 year low of $67.15 and a 1 year high of $100.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.29 and a quick ratio of 2.06.
Esterline Technologies (NYSE:ESL) last released its quarterly earnings results on Thursday, May 3rd. The aerospace company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. The firm had revenue of $517.60 million for the quarter, compared to the consensus estimate of $503.91 million. Esterline Technologies had a return on equity of 6.08% and a net margin of 2.74%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business posted $1.20 EPS. analysts expect that Esterline Technologies will post 3.71 earnings per share for the current year.
In other news, major shareholder Hawkeye Fund Fpa sold 2,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $73.20, for a total value of $146,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ESL. Balter Liquid Alternatives LLC purchased a new position in shares of Esterline Technologies in the 1st quarter worth $195,000. Summit Trail Advisors LLC raised its holdings 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 worth $211,000 after purchasing an additional 207,634 shares during the period. Bayesian Capital Management LP bought a new position in Esterline Technologies in the 1st quarter worth $291,000. Stone Ridge Asset Management LLC bought a new position in Esterline Technologies in the 4th quarter worth $347,000. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in Esterline Technologies by 54.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 5,352 shares of the aerospace company’s stock worth $391,000 after purchasing an additional 1,896 shares during the period. Hedge funds and other institutional investors own 94.55% of the company’s stock.
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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