Oppenheimer Asset Management Inc. Trims Holdings in Esterline Technologies Co. (ESL)
Oppenheimer Asset Management Inc. lessened its position in Esterline Technologies Co. (NYSE:ESL) by 34.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,289 shares of the aerospace company’s stock after selling 2,837 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Esterline Technologies were worth $481,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Hartford Investment Management Co. purchased a new position in shares of Esterline Technologies during the second quarter valued at approximately $208,000. CHICAGO TRUST Co NA purchased a new position in shares of Esterline Technologies during the third quarter valued at approximately $240,000. First Hawaiian Bank purchased a new position in shares of Esterline Technologies during the third quarter valued at approximately $304,000. First Washington CORP purchased a new position in shares of Esterline Technologies during the second quarter valued at approximately $306,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Esterline Technologies during the second quarter valued at approximately $516,000. 93.90% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on ESL. Credit Suisse Group raised Esterline Technologies from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $66.00 to $122.50 in a research report on Thursday, October 11th. ValuEngine raised Esterline Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 14th. Zacks Investment Research cut Esterline Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Alembic Global Advisors assumed coverage on Esterline Technologies in a research report on Friday, October 5th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $95.00 price objective (up previously from $84.00) on shares of Esterline Technologies in a research report on Monday, July 23rd. Three investment 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’s stock. Esterline Technologies presently has an average rating of “Hold” and a consensus price target of $88.94.
In other Esterline Technologies news, major shareholder Pacific Advisors Lp First sold 99,629 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was 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 SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.
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Esterline Technologies 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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