Esterline Technologies Co. (NYSE:ESL) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,715,397 shares, a growth of 141.9% from the October 15th total of 709,070 shares. Based on an average daily trading volume, of 614,896 shares, the short-interest ratio is presently 2.8 days. Currently, 5.9% of the company’s stock are sold short.

ESL stock opened at $117.25 on Wednesday. The company has a market capitalization of $3.46 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.21 and a beta of 0.65. The company has a quick ratio of 2.12, a current ratio of 3.39 and a debt-to-equity ratio of 0.41. Esterline Technologies has a 52 week low of $67.15 and a 52 week high of $119.07.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Esterline Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. Credit Suisse Group upgraded shares of Esterline Technologies from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $66.00 to $122.50 in a research note on Thursday, October 11th. TheStreet upgraded shares of Esterline Technologies from a “c” rating to a “b-” rating in a research note on Monday, July 30th. Canaccord Genuity lifted their target price on shares of Esterline Technologies from $76.00 to $85.00 and gave the stock a “hold” rating in a research note on Friday, August 3rd. Finally, Wells Fargo & Co reiterated a “market perform” rating and issued a $95.00 target price (up from $84.00) on shares of Esterline Technologies in a research note on Monday, July 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $88.94.

In other news, major shareholder Fpa Funds Trust sold 110,935 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $117.52, for a total value of $13,037,081.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Pacific Advisors Lp First sold 99,629 shares of the firm’s stock in a transaction dated Thursday, October 25th. The shares were sold at an average price of $117.45, for a total transaction of $11,701,426.05. The disclosure for this sale can be found here. Insiders sold a total of 213,986 shares of company stock worth $25,140,045 over the last 90 days. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Esterline Technologies by 0.8% in the 3rd quarter. BlackRock Inc. now owns 3,786,020 shares of the aerospace company’s stock worth $344,337,000 after purchasing an additional 28,623 shares in the last quarter. Franklin Resources Inc. lifted its stake in Esterline Technologies by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 1,333,297 shares of the aerospace company’s stock valued at $121,263,000 after acquiring an additional 100,000 shares during the period. Victory Capital Management Inc. lifted its stake in Esterline Technologies by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 893,356 shares of the aerospace company’s stock valued at $81,251,000 after acquiring an additional 24,767 shares during the period. Wells Fargo & Company MN lifted its stake in Esterline Technologies by 399.8% during the 3rd quarter. Wells Fargo & Company MN now owns 683,903 shares of the aerospace company’s stock valued at $62,201,000 after acquiring an additional 547,080 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Esterline Technologies by 11.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 676,782 shares of the aerospace company’s stock valued at $49,947,000 after acquiring an additional 67,892 shares during the period. Institutional investors own 95.29% of the company’s stock.

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Esterline Technologies Company Profile

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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