Principal Financial Group Inc. Reduces Position in ESCO Technologies Inc. (NYSE:ESE)

Principal Financial Group Inc. lessened its stake in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 9.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,704 shares of the scientific and technical instruments company's stock after selling 12,557 shares during the period. Principal Financial Group Inc. owned about 0.47% of ESCO Technologies worth $15,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ceredex Value Advisors LLC grew its holdings in ESCO Technologies by 0.5% during the 3rd quarter. Ceredex Value Advisors LLC now owns 94,350 shares of the scientific and technical instruments company's stock worth $12,169,000 after acquiring an additional 500 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of ESCO Technologies by 1.8% during the third quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company's stock valued at $135,138,000 after purchasing an additional 18,676 shares in the last quarter. Stephens Inc. AR purchased a new position in ESCO Technologies during the third quarter valued at approximately $786,000. US Bancorp DE raised its stake in ESCO Technologies by 7.1% in the third quarter. US Bancorp DE now owns 12,361 shares of the scientific and technical instruments company's stock worth $1,594,000 after buying an additional 822 shares in the last quarter. Finally, Tributary Capital Management LLC raised its stake in ESCO Technologies by 28.7% in the third quarter. Tributary Capital Management LLC now owns 180,352 shares of the scientific and technical instruments company's stock worth $23,262,000 after buying an additional 40,268 shares in the last quarter. Institutional investors own 95.70% of the company's stock.

ESCO Technologies Stock Up 3.1 %

NYSE:ESE traded up $4.30 during midday trading on Friday, reaching $144.30. 304,666 shares of the stock traded hands, compared to its average volume of 126,431. The business has a 50-day moving average of $127.95 and a two-hundred day moving average of $117.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.39 and a current ratio of 2.10. ESCO Technologies Inc. has a 12-month low of $96.69 and a 12-month high of $154.00. The stock has a market capitalization of $3.72 billion, a PE ratio of 37.38 and a beta of 1.08.

ESCO Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a $0.08 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. ESCO Technologies's payout ratio is 8.29%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESE. Stephens increased their target price on ESCO Technologies from $135.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Benchmark reaffirmed a "buy" rating and set a $150.00 price objective on shares of ESCO Technologies in a research report on Friday.

ESCO Technologies Company Profile

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.