Bank of America Corp DE Lowers Stock Holdings in ESCO Technologies Inc. (NYSE:ESE)

Bank of America Corp DE cut its holdings in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 292,864 shares of the scientific and technical instruments company's stock after selling 57,762 shares during the quarter. Bank of America Corp DE owned about 1.14% of ESCO Technologies worth $39,012,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mather Group LLC. acquired a new position in shares of ESCO Technologies during the fourth quarter worth about $30,000. Jones Financial Companies Lllp raised its stake in shares of ESCO Technologies by 747.1% during the 4th quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 254 shares in the last quarter. Huntington National Bank raised its stake in shares of ESCO Technologies by 150.0% during the 4th quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company's stock worth $41,000 after buying an additional 183 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of ESCO Technologies by 627.1% in the fourth quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company's stock valued at $57,000 after buying an additional 370 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of ESCO Technologies by 378.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 565 shares of the scientific and technical instruments company's stock valued at $75,000 after buying an additional 447 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ESE has been the subject of several research analyst reports. StockNews.com cut ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Stephens reiterated an "overweight" rating and issued a $175.00 price target on shares of ESCO Technologies in a report on Thursday, February 27th. Finally, Benchmark boosted their price objective on shares of ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

ESCO Technologies Price Performance

ESE stock traded down $0.67 during midday trading on Wednesday, hitting $180.11. 7,025 shares of the stock were exchanged, compared to its average volume of 131,726. The stock's 50-day moving average price is $159.86 and its 200-day moving average price is $149.76. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 2.04. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 42.28 and a beta of 1.19. ESCO Technologies Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $185.83.

ESCO Technologies (NYSE:ESE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.10. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. The business had revenue of $265.52 million during the quarter, compared to the consensus estimate of $264.96 million. During the same quarter in the previous year, the company posted $1.09 EPS. The business's revenue was up 6.6% on a year-over-year basis. Research analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.18%. The ex-dividend date is Wednesday, July 2nd. ESCO Technologies's payout ratio is 7.02%.

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.