Insider Selling: Esterline Technologies Corporation (ESL) Major Shareholder Sells $2,992,126.20 in Stock

Esterline Technologies Corporation (NYSE:ESL) major shareholder J Richard Atwood sold 31,155 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $96.04, for a total transaction of $2,992,126.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Esterline Technologies Corporation (NYSE:ESL) last issued its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.22). Esterline Technologies Corporation had a return on equity of 9.18% and a net margin of 6.65%. The firm had revenue of $503.80 million during the quarter, compared to analysts’ expectations of $522.38 million. During the same quarter in the prior year, the firm earned $1.38 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year.

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ESL has been the subject of several research reports. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Esterline Technologies Corporation in a research report on Thursday, October 12th. Canaccord Genuity reaffirmed a “hold” rating on shares of Esterline Technologies Corporation in a research report on Friday, October 13th. ValuEngine cut shares of Esterline Technologies Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Esterline Technologies Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $92.00 price objective on shares of Esterline Technologies Corporation in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Esterline Technologies Corporation currently has a consensus rating of “Hold” and a consensus target price of $92.67.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Esterline Technologies Corporation by 25,619.9% during the 1st quarter. BlackRock Inc. now owns 3,502,276 shares of the aerospace company’s stock worth $301,371,000 after buying an additional 3,488,659 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Esterline Technologies Corporation during the 2nd quarter worth approximately $26,478,000. Principal Financial Group Inc. lifted its position in shares of Esterline Technologies Corporation by 212.3% during the 2nd quarter. Principal Financial Group Inc. now owns 378,783 shares of the aerospace company’s stock worth $35,908,000 after buying an additional 257,500 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Esterline Technologies Corporation during the 3rd quarter worth approximately $18,677,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Esterline Technologies Corporation during the 3rd quarter worth approximately $18,030,000. Institutional investors own 92.66% of the company’s stock.

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.

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