Goldman Sachs Group Inc. cut its stake in shares of ESCO Technologies Inc. (NYSE:ESE) by 60.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,854 shares of the scientific and technical instruments company’s stock after selling 27,626 shares during the period. Goldman Sachs Group Inc.’s holdings in ESCO Technologies were worth $1,037,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in ESCO Technologies by 96.9% in the first quarter. LS Investment Advisors LLC now owns 1,900 shares of the scientific and technical instruments company’s stock valued at $110,000 after buying an additional 935 shares during the period. O Shaughnessy Asset Management LLC increased its stake in ESCO Technologies by 3,191.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,909 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 1,851 shares during the period. PNC Financial Services Group Inc. increased its stake in ESCO Technologies by 7.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,116 shares of the scientific and technical instruments company’s stock valued at $123,000 after buying an additional 152 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in ESCO Technologies during the first quarter valued at approximately $128,000. Finally, State of Alaska Department of Revenue increased its stake in ESCO Technologies by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,840 shares of the scientific and technical instruments company’s stock valued at $165,000 after buying an additional 60 shares during the period. 97.58% of the stock is currently owned by institutional investors and hedge funds.
ESCO Technologies Inc. (NYSE ESE) traded down 3.66% during mid-day trading on Friday, hitting $51.40. 184,126 shares of the stock traded hands. ESCO Technologies Inc. has a 12-month low of $42.95 and a 12-month high of $63.80. The company has a 50 day moving average of $60.15 and a 200-day moving average of $57.88. The stock has a market cap of $1.33 billion, a PE ratio of 25.96 and a beta of 1.01.
ESCO Technologies (NYSE:ESE) last posted its quarterly earnings data on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. The firm had revenue of $172 million for the quarter, compared to analyst estimates of $172 million. During the same period last year, the firm posted $0.49 EPS. ESCO Technologies’s quarterly revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that ESCO Technologies Inc. will post $2.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Investors 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 dividend on an annualized basis and a yield of 0.62%. ESCO Technologies’s dividend payout ratio (DPR) is 16.16%.
Several analysts have recently commented on the stock. Wunderlich assumed coverage on shares of ESCO Technologies in a report on Tuesday, June 13th. They issued a “buy” rating and a $71.00 price objective on the stock. FBR & Co reaffirmed an “outperform” rating on shares of ESCO Technologies in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $66.50.
About ESCO Technologies
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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