Esterline Technologies Corporation (NYSE:ESL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems primarily for aerospace and defense customers in the United States and internationally. 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. The Company serves aerospace and defense customers. The Company’s Avionics & Controls business segment includes avionics systems, control and communication systems, and interface technologies capabilities. The Company’s Sensors & Systems business segment includes power systems, connection technologies and advanced sensors capabilities. The Company’s Advanced Materials business segment includes engineered materials and defense technologies capabilities. It designs and manufactures ruggedized military personal communication equipment, primarily headsets, handsets and field communications. “

ESL has been the topic of several other reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $90.00 price target on shares of Esterline Technologies Corporation in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $90.00 price target (down from $92.00) on shares of Esterline Technologies Corporation in a report on Wednesday, August 9th. Credit Suisse Group cut shares of Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and cut their price target for the company from $106.00 to $100.00 in a report on Friday, August 4th. BidaskClub raised shares of Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Esterline Technologies Corporation from a “neutral” rating to a “sell” rating and cut their price target for the company from $86.00 to $75.00 in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Esterline Technologies Corporation presently has a consensus rating of “Hold” and a consensus price target of $92.67.

Esterline Technologies Corporation (ESL) remained flat at $93.00 on Wednesday. 132,213 shares of the company’s stock traded hands. Esterline Technologies Corporation has a 52 week low of $69.85 and a 52 week high of $102.70. The firm has a market cap of $2.79 billion, a PE ratio of 20.72 and a beta of 1.49. The company’s 50-day moving average price is $87.79 and its 200 day moving average price is $91.37.

Esterline Technologies Corporation (NYSE:ESL) last posted its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.22). The company had revenue of $503.80 million during the quarter, compared to analyst estimates of $522.38 million. Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.38 earnings per share. Analysts forecast that Esterline Technologies Corporation will post $4.64 earnings per share for the current year.

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In other Esterline Technologies Corporation news, major shareholder Hawkeye Fund Fpa sold 7,621 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $91.04, for a total transaction of $693,815.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in ESL. PNC Financial Services Group Inc. increased its stake in Esterline Technologies Corporation by 13.9% during the second 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Esterline Technologies Corporation by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock valued at $112,000 after purchasing an additional 120 shares during the last quarter. Flinton Capital Management LLC increased its stake in Esterline Technologies Corporation by 57.4% during the second quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock valued at $129,000 after purchasing an additional 496 shares during the last quarter. Pacad Investment Ltd. increased its stake in Esterline Technologies Corporation by 100.0% during the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock valued at $171,000 after purchasing an additional 900 shares during the last quarter. Finally, Invictus RG increased its stake in Esterline Technologies Corporation by 66.3% during the first quarter. Invictus RG now owns 2,252 shares of the aerospace company’s stock valued at $194,000 after purchasing an additional 898 shares during the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.

Esterline Technologies Corporation 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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Analyst Recommendations for Esterline Technologies Corporation (NYSE:ESL)

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