Allspring Global Investments Holdings LLC Reduces Stock Position in ESCO Technologies Inc. (NYSE:ESE)

Allspring Global Investments Holdings LLC decreased its position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 29.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 60,564 shares of the scientific and technical instruments company's stock after selling 25,561 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of ESCO Technologies worth $7,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESE. First Horizon Advisors Inc. bought a new stake in shares of ESCO Technologies in the second quarter valued at approximately $36,000. Innealta Capital LLC bought a new position in shares of ESCO Technologies in the second quarter worth $50,000. GAMMA Investing LLC raised its stake in shares of ESCO Technologies by 43.0% during the 3rd quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company's stock valued at $60,000 after purchasing an additional 141 shares during the period. Central Pacific Bank Trust Division purchased a new stake in ESCO Technologies during the 1st quarter worth about $126,000. Finally, EntryPoint Capital LLC grew its holdings in ESCO Technologies by 2,178.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,572 shares of the scientific and technical instruments company's stock valued at $168,000 after buying an additional 1,503 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ESE has been the topic of a number of analyst reports. Benchmark initiated coverage on shares of ESCO Technologies in a report on Monday, October 21st. They set a "buy" rating and a $150.00 target price on the stock. Stephens upped their price target on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, September 27th.

ESCO Technologies Price Performance

Shares of NYSE ESE traded up $1.16 during mid-day trading on Friday, reaching $130.00. 105,267 shares of the company were exchanged, compared to its average volume of 92,135. The stock has a market capitalization of $3.35 billion, a PE ratio of 33.68 and a beta of 1.08. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. ESCO Technologies Inc. has a 52 week low of $94.59 and a 52 week high of $130.89. The company's 50 day moving average price is $122.46 and its 200 day moving average price is $113.89.

ESCO Technologies (NYSE:ESE - Get Free Report) last released its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.03). ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. The firm had revenue of $260.78 million during the quarter. Sell-side analysts forecast that ESCO Technologies Inc. will post 4.15 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $0.32 annualized dividend and a yield of 0.25%. ESCO Technologies's payout ratio is 8.29%.

About ESCO Technologies

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.