NEW YORK ( TheStreet) -- Esterline Technologies (NYSE: ESL) is trading at unusually high volume Friday with 1.1 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $5.68 (+8.3%) at $73.95 as of 12:20 p.m. ET.

Esterline has a market cap of $1.89 billion and is part of the industrial goods sector and aerospace/defense industry. Shares are up 22% year to date as of the close of trading on Thursday.

Esterline Technologies Corporation designs, manufactures, and markets engineered products and systems for aerospace and defense customers primarily in the United States and internationally. The company has a P/E ratio of 15.2, above the average aerospace/defense industry P/E ratio of 14.4 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Esterline as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Esterline Ratings Report.

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