Bank of New York Mellon Corp reduced its stake in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 238,312 shares of the scientific and technical instruments company's stock after selling 8,914 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.92% of ESCO Technologies worth $31,746,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of ESE. Mather Group LLC. bought a new stake in ESCO Technologies during the fourth quarter worth about $30,000. First Horizon Advisors Inc. boosted its position in shares of ESCO Technologies by 20.9% during the third quarter. First Horizon Advisors Inc. now owns 411 shares of the scientific and technical instruments company's stock worth $53,000 after purchasing an additional 71 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ESCO Technologies by 21.7% during the fourth quarter. GAMMA Investing LLC now owns 571 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 102 shares during the period. KBC Group NV lifted its stake in ESCO Technologies by 67.5% in the 4th quarter. KBC Group NV now owns 1,169 shares of the scientific and technical instruments company's stock valued at $156,000 after acquiring an additional 471 shares in the last quarter. Finally, Lindenwold Advisors INC bought a new stake in ESCO Technologies during the third quarter worth about $226,000. 95.70% of the stock is currently owned by institutional investors.
ESCO Technologies Stock Down 0.8 %
Shares of ESE traded down $1.27 during trading hours on Wednesday, reaching $156.96. The stock had a trading volume of 57,405 shares, compared to its average volume of 117,761. The firm has a 50-day simple moving average of $146.23 and a 200 day simple moving average of $136.81. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 36.99 and a beta of 1.11. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. ESCO Technologies Inc. has a 12 month low of $97.11 and a 12 month high of $171.28.
ESCO Technologies (NYSE:ESE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. Equities research analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.
ESCO Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Wednesday, April 2nd. ESCO Technologies's payout ratio is 7.51%.
Analysts Set New Price Targets
ESE has been the subject of several research reports. Stephens reissued an "overweight" rating and set a $175.00 price target on shares of ESCO Technologies in a report on Thursday, February 27th. Benchmark lifted their price objective on shares of ESCO Technologies from $150.00 to $190.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, StockNews.com cut ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd.
Check Out Our Latest Analysis on ESE
ESCO Technologies Profile
(
Free Report)
ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.
See Also
Before you consider ESCO Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESCO Technologies wasn't on the list.
While ESCO Technologies currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
