Franklin Resources Inc. Acquires 100,000 Shares of Esterline Technologies Co. (ESL)

Franklin Resources Inc. lifted its holdings in Esterline Technologies Co. (NYSE:ESL) by 8.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,333,297 shares of the aerospace company’s stock after acquiring an additional 100,000 shares during the quarter. Franklin Resources Inc.’s holdings in Esterline Technologies were worth $121,263,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Systems of Alabama grew its stake in shares of Esterline Technologies by 2.1% in the 3rd quarter. Retirement Systems of Alabama now owns 34,244 shares of the aerospace company’s stock worth $3,114,000 after purchasing an additional 710 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Esterline Technologies by 193.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,172 shares of the aerospace company’s stock worth $100,000 after purchasing an additional 772 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Esterline Technologies by 4.6% in the 3rd quarter. Arizona State Retirement System now owns 18,815 shares of the aerospace company’s stock worth $1,711,000 after purchasing an additional 836 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of Esterline Technologies by 5.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,375 shares of the aerospace company’s stock worth $1,135,000 after purchasing an additional 840 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Esterline Technologies by 0.4% in the 2nd quarter. American Century Companies Inc. now owns 246,602 shares of the aerospace company’s stock worth $18,199,000 after purchasing an additional 873 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Esterline Technologies stock opened at $120.91 on Tuesday. The company has a market capitalization of $3.50 billion, a PE ratio of 28.54, a PEG ratio of 2.68 and a beta of 0.62. The company has a current ratio of 3.24, a quick ratio of 2.10 and a debt-to-equity ratio of 0.36. Esterline Technologies Co. has a fifty-two week low of $67.15 and a fifty-two week high of $121.60.

Esterline Technologies (NYSE:ESL) last released its earnings results on Tuesday, November 20th. The aerospace company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.49. The business had revenue of $535.30 million for the quarter, compared to the consensus estimate of $534.09 million. Esterline Technologies had a net margin of 3.45% and a return on equity of 6.85%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.27 earnings per share. On average, equities research analysts predict that Esterline Technologies Co. will post 4.66 earnings per share for the current fiscal year.

ESL has been the topic of several recent research reports. Barclays raised shares of Esterline Technologies from an “underweight” rating to an “equal weight” rating in a research note on Monday. Zacks Investment Research raised shares of Esterline Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Jefferies Financial Group set a $123.00 target price on shares of Esterline Technologies and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Alembic Global Advisors assumed coverage on shares of Esterline Technologies in a research report on Friday, October 5th. They issued an “overweight” rating on the stock. Finally, ValuEngine raised shares of Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Esterline Technologies presently has a consensus rating of “Hold” and a consensus price target of $97.50.

In other Esterline Technologies news, major shareholder Pacific Advisors Lp First sold 99,629 shares of Esterline Technologies stock in a transaction that occurred on Thursday, October 25th. The shares were sold at an average price of $117.45, for a total value of $11,701,426.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Fpa Funds Trust sold 110,935 shares of Esterline Technologies stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $117.52, for a total transaction of $13,037,081.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 213,986 shares of company stock valued at $25,140,045. 1.30% of the stock is currently owned by corporate insiders.

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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.

Read More: Dollar Cost Averaging

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Institutional Ownership by Quarter for Esterline Technologies (NYSE:ESL)

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