Capstone Asset Management Co. lowered its position in ESCO Technologies Inc. (NYSE:ESE) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,789 shares of the scientific and technical instruments company’s stock after selling 390 shares during the period. Capstone Asset Management Co.’s holdings in ESCO Technologies were worth $405,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in ESE. Nationwide Fund Advisors raised its position in shares of ESCO Technologies by 2.1% in the first quarter. Nationwide Fund Advisors now owns 28,906 shares of the scientific and technical instruments company’s stock worth $1,679,000 after buying an additional 581 shares during the last quarter. Norges Bank acquired a new position in shares of ESCO Technologies during the fourth quarter worth about $15,530,000. Conestoga Capital Advisors LLC acquired a new position in shares of ESCO Technologies during the first quarter worth about $8,651,000. Guggenheim Capital LLC acquired a new position in shares of ESCO Technologies during the fourth quarter worth about $1,242,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of ESCO Technologies by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 147,380 shares of the scientific and technical instruments company’s stock worth $8,563,000 after buying an additional 9,407 shares during the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Shares of ESCO Technologies Inc. (NYSE ESE) traded up 1.02% during trading on Friday, reaching $54.25. 50,988 shares of the company traded hands. ESCO Technologies Inc. has a 12-month low of $42.95 and a 12-month high of $63.80. The stock has a market capitalization of $1.40 billion, a PE ratio of 27.40 and a beta of 1.01. The firm’s 50-day moving average is $59.50 and its 200-day moving average is $57.79.
ESCO Technologies (NYSE:ESE) last announced its earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. ESCO Technologies had a net margin of 8.06% and a return on equity of 8.36%. The business had revenue of $172 million during the quarter, compared to analyst estimates of $172 million. During the same period in the previous year, the business posted $0.49 earnings per share. ESCO Technologies’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts predict that ESCO Technologies Inc. will post $2.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $0.32 annualized dividend and a yield of 0.60%. ESCO Technologies’s payout ratio is presently 16.16%.
A number of brokerages have recently weighed in on ESE. FBR & Co reaffirmed an “outperform” rating on shares of ESCO Technologies in a report on Tuesday, July 11th. BidaskClub downgraded shares of ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Wunderlich began coverage on shares of ESCO Technologies in a report on Tuesday, June 13th. They set a “buy” rating and a $71.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $66.50.
ESCO Technologies Company 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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