Bank of New York Mellon Corp Reduces Stock Position in ESCO Technologies Inc. (NYSE:ESE)

Bank of New York Mellon Corp trimmed its stake in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 222,288 shares of the scientific and technical instruments company's stock after selling 16,024 shares during the period. Bank of New York Mellon Corp owned 0.86% of ESCO Technologies worth $35,370,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Opal Wealth Advisors LLC bought a new position in shares of ESCO Technologies during the 1st quarter valued at about $35,000. CX Institutional purchased a new stake in shares of ESCO Technologies in the first quarter worth about $36,000. Jones Financial Companies Lllp lifted its position in shares of ESCO Technologies by 747.1% in the fourth 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 boosted its stake in ESCO Technologies by 150.0% during the fourth quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company's stock valued at $41,000 after buying an additional 183 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings 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 buying an additional 370 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Benchmark upped their price objective on ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a 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.

ESCO Technologies Price Performance

Shares of NYSE ESE traded down $2.10 during mid-day trading on Friday, hitting $195.43. 41,744 shares of the company's stock traded hands, compared to its average volume of 137,699. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.05 and a quick ratio of 1.33. ESCO Technologies Inc. has a 1 year low of $108.70 and a 1 year high of $198.34. The company's 50-day moving average is $185.70 and its two-hundred day moving average is $162.67. The company has a market capitalization of $5.05 billion, a P/E ratio of 42.86 and a beta of 1.21.

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

ESCO Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend was Wednesday, July 2nd. ESCO Technologies's dividend payout ratio (DPR) is currently 7.02%.

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.