Azzad Asset Management Inc. ADV Acquires New Position in ESCO Technologies Inc. (NYSE:ESE)

Azzad Asset Management Inc. ADV purchased a new position in ESCO Technologies Inc. (NYSE:ESE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,108 shares of the scientific and technical instruments company's stock, valued at approximately $1,290,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ESE. Wellington Management Group LLP lifted its stake in shares of ESCO Technologies by 152.6% in the fourth quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company's stock worth $50,634,000 after buying an additional 229,601 shares in the last quarter. GAMMA Investing LLC increased its position in ESCO Technologies by 18,682.3% during the first quarter. GAMMA Investing LLC now owns 107,247 shares of the scientific and technical instruments company's stock worth $17,065,000 after purchasing an additional 106,676 shares during the last quarter. Norges Bank acquired a new stake in ESCO Technologies during the fourth quarter worth about $13,066,000. Rockefeller Capital Management L.P. acquired a new stake in ESCO Technologies during the fourth quarter worth about $11,435,000. Finally, JPMorgan Chase & Co. increased its position in ESCO Technologies by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 144,039 shares of the scientific and technical instruments company's stock worth $19,187,000 after purchasing an additional 67,116 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

ESCO Technologies Trading Down 1.4%

Shares of ESE traded down $2.67 during trading on Friday, reaching $183.77. 162,688 shares of the company traded hands, compared to its average volume of 134,656. ESCO Technologies Inc. has a twelve month low of $101.42 and a twelve month high of $187.83. The stock has a market cap of $4.75 billion, a PE ratio of 43.14 and a beta of 1.21. The stock has a 50-day simple moving average of $169.05 and a 200-day simple moving average of $154.53. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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

ESCO Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ESE shares. Benchmark raised their price objective on shares of ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Stephens restated an "overweight" rating and set a $175.00 price objective on shares of ESCO Technologies in a research report on Thursday, February 27th.

ESCO Technologies 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.