Esterline Technologies Corporation (ESL) Major Shareholder Sells $4,586,679.75 in Stock
Esterline Technologies Corporation (NYSE:ESL) major shareholder J Richard Atwood sold 48,225 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $95.11, for a total value of $4,586,679.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
J Richard Atwood also recently made the following trade(s):
- On Friday, October 27th, J Richard Atwood sold 31,155 shares of Esterline Technologies Corporation stock. The shares were sold at an average price of $96.04, for a total value of $2,992,126.20.
Esterline Technologies Corporation (NYSE:ESL) last announced its earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.22). Esterline Technologies Corporation had a net margin of 6.65% and a return on equity of 9.18%. The business had revenue of $503.80 million during the quarter, compared to analyst estimates of $522.38 million. During the same period in the previous year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis.
COPYRIGHT VIOLATION NOTICE: This story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/11/02/esterline-technologies-corporation-esl-major-shareholder-sells-4586679-75-in-stock.html.
Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in Esterline Technologies Corporation by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,092 shares of the aerospace company’s stock worth $104,000 after buying an additional 133 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Esterline Technologies Corporation by 11.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,184 shares of the aerospace company’s stock worth $112,000 after purchasing an additional 120 shares in the last quarter. Flinton Capital Management LLC grew its stake in shares of Esterline Technologies Corporation by 57.4% in the second quarter. Flinton Capital Management LLC now owns 1,360 shares of the aerospace company’s stock worth $129,000 after purchasing an additional 496 shares in the last quarter. Pacad Investment Ltd. grew its stake in shares of Esterline Technologies Corporation by 100.0% in the second quarter. Pacad Investment Ltd. now owns 1,800 shares of the aerospace company’s stock worth $171,000 after purchasing an additional 900 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Esterline Technologies Corporation in the second quarter worth $202,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Esterline Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Canaccord Genuity increased their price objective on Esterline Technologies Corporation from $90.00 to $92.00 and gave the company a “hold” rating in a report on Friday, August 4th. Credit Suisse Group downgraded Esterline Technologies Corporation from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $106.00 to $100.00 in a report on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and issued a $92.00 price objective on shares of Esterline Technologies Corporation in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded Esterline Technologies Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $92.67.
About Esterline Technologies Corporation
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.
Receive News & Ratings for Esterline Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Esterline Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.