Insider Selling: Esterline Technologies Co. (ESL) CFO Sells 26,700 Shares of Stock
Esterline Technologies Co. (NYSE:ESL) CFO Robert David George sold 26,700 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $93.46, for a total transaction of $2,495,382.00. Following the sale, the chief financial officer now directly owns 29,960 shares in the company, valued at approximately $2,800,061.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Robert David George also recently made the following trade(s):
- On Wednesday, March 15th, Robert David George sold 17,100 shares of Esterline Technologies stock. The stock was sold at an average price of $90.10, for a total transaction of $1,540,710.00.
Shares of Esterline Technologies Co. (NYSE:ESL) traded down 0.11% on Wednesday, hitting $94.00. 127,964 shares of the stock traded hands. Esterline Technologies Co. has a 1-year low of $56.72 and a 1-year high of $96.50. The stock has a market cap of $2.80 billion, a PE ratio of 21.03 and a beta of 1.36. The stock has a 50 day moving average of $89.77 and a 200-day moving average of $88.14.
Esterline Technologies (NYSE:ESL) last released its quarterly earnings results on Thursday, May 4th. The aerospace company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.29. The company had revenue of $509.20 million for the quarter, compared to analysts’ expectations of $491.74 million. Esterline Technologies had a return on equity of 9.51% and a net margin of 5.61%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. On average, equities research analysts expect that Esterline Technologies Co. will post $4.96 EPS for the current year.
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A number of brokerages have commented on ESL. Zacks Investment Research raised shares of Esterline Technologies from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Monday, May 8th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $92.00 target price on shares of Esterline Technologies in a research note on Thursday, May 18th. Canaccord Genuity reaffirmed a “hold” rating and issued a $90.00 target price on shares of Esterline Technologies in a research note on Friday, May 5th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $106.00 target price (up previously from $96.00) on shares of Esterline Technologies in a research note on Friday, May 5th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Esterline Technologies currently has a consensus rating of “Buy” and an average price target of $95.33.
Several hedge funds have recently added to or reduced their stakes in ESL. Goldman Sachs Group Inc. boosted its stake in Esterline Technologies by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 834,615 shares of the aerospace company’s stock valued at $71,819,000 after buying an additional 25,090 shares during the period. Ironwood Investment Management LLC boosted its stake in Esterline Technologies by 1.1% in the first quarter. Ironwood Investment Management LLC now owns 9,075 shares of the aerospace company’s stock valued at $781,000 after buying an additional 95 shares during the period. Westwood Holdings Group Inc. boosted its stake in Esterline Technologies by 1.8% in the first quarter. Westwood Holdings Group Inc. now owns 157,642 shares of the aerospace company’s stock valued at $13,565,000 after buying an additional 2,770 shares during the period. Paloma Partners Management Co purchased a new stake in Esterline Technologies during the first quarter valued at $692,000. Finally, AQR Capital Management LLC boosted its stake in Esterline Technologies by 33.0% in the first quarter. AQR Capital Management LLC now owns 510,732 shares of the aerospace company’s stock valued at $43,948,000 after buying an additional 126,686 shares during the period. Institutional investors own 87.49% of the company’s stock.
Esterline Technologies Company Profile
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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