ANB Bank Invests $242,000 in ESCO Technologies Inc. (NYSE:ESE)

Key Points

• ANB Bank has acquired a total of 1,520 shares of ESCO Technologies Inc., valued at approximately $242,000, marking a new position for the bank in the company's stock.
• ESCO Technologies reported a quarterly earnings per share (EPS) of $1.35, surpassing analysts' estimates of $1.25, with a revenue increase of 6.6% compared to the same quarter last year.
• The company's stock has been rated as a "buy" by analysts, with a raised price target from $190.00 to $200.00 by Benchmark following their recent earnings report.

ANB Bank bought a new position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,520 shares of the scientific and technical instruments company's stock, valued at approximately $242,000.

Several other large investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new stake in shares of ESCO Technologies in the first quarter valued at about $35,000. CX Institutional acquired a new stake in shares of ESCO Technologies in the first quarter valued at about $36,000. TD Private Client Wealth LLC acquired a new stake in ESCO Technologies during the 1st quarter valued at approximately $38,000. Huntington National Bank grew its stake in 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 valued at $41,000 after purchasing an additional 183 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in 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 valued at $57,000 after purchasing an additional 370 shares in the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

ESCO Technologies Stock Performance

ESCO Technologies stock traded up $0.91 during mid-day trading on Monday, hitting $192.20. 24,171 shares of the company's stock traded hands, compared to its average volume of 160,352. The firm has a 50 day moving average price of $186.95 and a 200 day moving average price of $165.56. The company has a quick ratio of 1.33, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.96 billion, a PE ratio of 42.15 and a beta of 1.21. ESCO Technologies Inc. has a one year low of $108.70 and a one year high of $198.34.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.10. ESCO Technologies had a return on equity of 10.56% and a net margin of 11.01%. The company had revenue of $265.52 million for the quarter, compared to the consensus estimate of $264.96 million. During the same quarter in the previous year, the business earned $1.09 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that ESCO Technologies Inc. will post 5.65 EPS for the current year.

ESCO Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.17%. ESCO Technologies's payout ratio is currently 7.02%.

Analyst Ratings Changes

Separately, Benchmark raised their price objective on ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

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.