ESCO Technologies Inc. (NYSE:ESE) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its stake in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,512 shares of the scientific and technical instruments company's stock after selling 16,703 shares during the quarter. Granite Investment Partners LLC owned approximately 0.13% of ESCO Technologies worth $4,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new position in ESCO Technologies in the fourth quarter valued at about $11,435,000. Sterling Capital Management LLC raised its stake in shares of ESCO Technologies by 627.1% during the 4th quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company's stock worth $57,000 after acquiring an additional 370 shares in the last quarter. Invesco Ltd. lifted its position in ESCO Technologies by 3.3% during the fourth quarter. Invesco Ltd. now owns 137,478 shares of the scientific and technical instruments company's stock valued at $18,313,000 after acquiring an additional 4,439 shares during the last quarter. Bank of Montreal Can boosted its stake in ESCO Technologies by 12.8% in the fourth quarter. Bank of Montreal Can now owns 2,824 shares of the scientific and technical instruments company's stock valued at $376,000 after acquiring an additional 321 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in ESCO Technologies by 6.3% in the fourth quarter. Cerity Partners LLC now owns 12,237 shares of the scientific and technical instruments company's stock worth $1,590,000 after purchasing an additional 721 shares during the last quarter. 95.70% of the stock is owned by institutional investors.

ESCO Technologies Price Performance

NYSE:ESE traded up $0.45 during trading hours on Friday, hitting $151.28. 121,105 shares of the stock were exchanged, compared to its average volume of 128,331. The company has a market cap of $3.90 billion, a P/E ratio of 35.51 and a beta of 1.07. The firm's fifty day moving average price is $157.45 and its 200 day moving average price is $143.38. ESCO Technologies Inc. has a 52-week low of $98.77 and a 52-week high of $171.28. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The scientific and technical instruments company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. As a group, equities research analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.21%. ESCO Technologies's dividend payout ratio is presently 7.51%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Stephens reiterated an "overweight" rating and set a $175.00 price objective on shares of ESCO Technologies in a report on Thursday, February 27th. Benchmark raised their price target on ESCO Technologies from $150.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of ESCO Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 21st.

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.