Texas Permanent School Fund reduced its stake in Esterline Technologies Co. (NYSE:ESL) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,714 shares of the aerospace company’s stock after selling 602 shares during the period. Texas Permanent School Fund owned approximately 0.06% of Esterline Technologies worth $1,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Esterline Technologies by 10.4% in the first quarter. BlackRock Inc. now owns 3,957,390 shares of the aerospace company’s stock valued at $289,483,000 after acquiring an additional 373,639 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Esterline Technologies by 6.2% in the first quarter. Victory Capital Management Inc. now owns 950,768 shares of the aerospace company’s stock valued at $69,549,000 after acquiring an additional 55,282 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Esterline Technologies by 4.9% in the first quarter. Franklin Resources Inc. now owns 786,997 shares of the aerospace company’s stock valued at $57,569,000 after acquiring an additional 36,587 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Esterline Technologies by 6.8% in the first quarter. Principal Financial Group Inc. now owns 388,543 shares of the aerospace company’s stock valued at $28,422,000 after acquiring an additional 24,605 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Esterline Technologies by 3.2% in the second quarter. Fisher Asset Management LLC now owns 302,443 shares of the aerospace company’s stock valued at $22,320,000 after acquiring an additional 9,280 shares in the last quarter. Institutional investors and hedge funds own 94.24% of the company’s stock.

In other Esterline Technologies 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 legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.

Esterline Technologies opened at $85.10 on Friday, MarketBeat.com reports. Esterline Technologies Co. has a 1-year low of $67.15 and a 1-year high of $96.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.12 and a current ratio of 3.39. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.03 and a beta of 1.26.

Esterline Technologies (NYSE:ESL) last posted its quarterly earnings results on Thursday, August 2nd. The aerospace company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.15. Esterline Technologies had a return on equity of 5.91% and a net margin of 2.62%. The company had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $476.01 million. During the same period last year, the firm earned $1.08 earnings per share. Esterline Technologies’s quarterly revenue was down .8% on a year-over-year basis. analysts anticipate that Esterline Technologies Co. will post 3.73 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on ESL. Credit Suisse Group increased their price objective on Esterline Technologies from $63.00 to $66.00 and gave the company an “underperform” rating in a research note on Tuesday. Canaccord Genuity increased their price objective on Esterline Technologies from $76.00 to $85.00 and gave the company a “hold” rating in a research note on Friday, August 3rd. Jefferies Financial Group reiterated a “hold” rating and issued a $92.00 price objective on shares of Esterline Technologies in a research note on Friday, August 3rd. TheStreet upgraded Esterline Technologies from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $95.00 price objective (up from $84.00) on shares of Esterline Technologies in a research note on Monday, July 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $83.11.

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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