The UBS Asset Management Americas Inc. reaches $2,403,000 position of Esterline Technologies Corp. (ESL)

The UBS Asset Management Americas Inc. reaches $2,403,000 position  of Esterline Technologies Corp. (ESL)

UBS Asset Management Americas Inc. lowered its stake in shares of Esterline Technologies Corp. (NYSE:ESL) by 22.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,744 shares of the company’s stock after selling 11,400 shares during the period. UBS Asset Management Americas Inc. owned 0.13% of Esterline Technologies Corp. worth $2,403,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ESL. State Street Corp increased its stake in shares of Esterline Technologies Corp. by 1.4% in the first quarter. State Street Corp now owns 1,005,140 shares of the company’s stock valued at $64,400,000 after buying an additional 13,940 shares during the period. BlackRock Group LTD increased its stake in shares of Esterline Technologies Corp. by 22.7% in the first quarter. BlackRock Group LTD now owns 20,308 shares of the company’s stock valued at $1,301,000 after buying an additional 3,762 shares during the period. Moore Capital Management LP purchased a new stake in shares of Esterline Technologies Corp. during the first quarter valued at $5,068,000. Prudential Financial Inc. increased its stake in shares of Esterline Technologies Corp. by 30.4% in the first quarter. Prudential Financial Inc. now owns 82,364 shares of the company’s stock valued at $5,277,000 after buying an additional 19,190 shares during the period. Finally, UBS Group AG increased its stake in shares of Esterline Technologies Corp. by 5.4% in the first quarter. UBS Group AG now owns 21,380 shares of the company’s stock valued at $1,370,000 after buying an additional 1,093 shares during the period. 87.70% of the stock is owned by institutional investors.

Esterline Technologies Corp. (NYSE:ESL) traded down 0.46% during midday trading on Friday, reaching $76.03. 238,847 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $75.94 and its 200-day moving average is $67.98. Esterline Technologies Corp. has a 12-month low of $45.12 and a 12-month high of $96.44. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 47.05 and a beta of 1.23.

Esterline Technologies Corp. (NYSE:ESL) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. The company earned $517.10 million during the quarter, compared to analysts’ expectations of $490.37 million. Esterline Technologies Corp. had a net margin of 2.40% and a return on equity of 6.15%. Esterline Technologies Corp.’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Esterline Technologies Corp. will post $4.51 earnings per share for the current year.

Several equities research analysts recently weighed in on ESL shares. Zacks Investment Research raised shares of Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Wednesday. Jefferies Group reissued a “buy” rating and set a $87.00 price target on shares of Esterline Technologies Corp. in a research report on Friday, August 5th. Finally, Drexel Hamilton raised shares of Esterline Technologies Corp. from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $81.17.

In other Esterline Technologies Corp. news, EVP Albert S. Yost sold 10,800 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $76.32, for a total value of $824,256.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Select Drawdown Fund L.P. Fpa acquired 5,340 shares of the stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $59.83 per share, with a total value of $319,492.20. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

About Esterline Technologies Corp.

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. It operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials.

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