BlackRock Inc. lowered its position in ESCO Technologies Inc. (NYSE:ESE) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,068,827 shares of the scientific and technical instruments company’s stock after selling 9,836 shares during the period. BlackRock Inc. owned 11.88% of ESCO Technologies worth $183,056,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Captrust Financial Advisors purchased a new position in ESCO Technologies in the 2nd quarter valued at $1,297,000. Ameriprise Financial Inc. lifted its holdings in ESCO Technologies by 7.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 276,415 shares of the scientific and technical instruments company’s stock valued at $16,487,000 after purchasing an additional 18,347 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in ESCO Technologies by 1.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 68,738 shares of the scientific and technical instruments company’s stock valued at $4,100,000 after purchasing an additional 730 shares in the last quarter. Teachers Advisors LLC lifted its holdings in ESCO Technologies by 4.1% in the 2nd quarter. Teachers Advisors LLC now owns 46,358 shares of the scientific and technical instruments company’s stock valued at $2,765,000 after purchasing an additional 1,844 shares in the last quarter. Finally, Kennedy Capital Management Inc. lifted its holdings in ESCO Technologies by 1.5% in the 2nd quarter. Kennedy Capital Management Inc. now owns 118,702 shares of the scientific and technical instruments company’s stock valued at $7,081,000 after purchasing an additional 1,727 shares in the last quarter. Institutional investors own 94.10% of the company’s stock.
A number of research analysts have weighed in on ESE shares. Zacks Investment Research upgraded ESCO Technologies from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, October 3rd. FBR & Co restated an “outperform” rating on shares of ESCO Technologies in a report on Tuesday, July 11th. BidaskClub lowered ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Wunderlich started coverage on ESCO Technologies in a report on Tuesday, June 13th. They issued a “buy” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $67.00.
ESCO Technologies Inc. (NYSE ESE) opened at 60.60 on Wednesday. ESCO Technologies Inc. has a 12-month low of $42.95 and a 12-month high of $63.80. The stock’s 50 day moving average price is $57.00 and its 200 day moving average price is $58.16. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 30.61 and a beta of 1.04.
ESCO Technologies (NYSE:ESE) last issued its quarterly earnings data on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.01. ESCO Technologies had a return on equity of 8.36% and a net margin of 8.06%. The business had revenue of $172.00 million for the quarter, compared to the consensus estimate of $172.00 million. During the same period in the prior year, the business earned $0.49 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. Analysts forecast that ESCO Technologies Inc. will post $2.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd will be given a $0.08 dividend. The ex-dividend date is Monday, October 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. ESCO Technologies’s dividend payout ratio is currently 16.16%.
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ESCO Technologies Profile
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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