ESCO Technologies Inc. (NYSE:ESE) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 42.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,320 shares of the scientific and technical instruments company's stock after selling 6,983 shares during the quarter. Bessemer Group Inc.'s holdings in ESCO Technologies were worth $1,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in ESCO Technologies by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,907,533 shares of the scientific and technical instruments company's stock worth $387,312,000 after acquiring an additional 32,306 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of ESCO Technologies by 152.6% during the 4th quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company's stock worth $50,634,000 after purchasing an additional 229,601 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ESCO Technologies by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 306,077 shares of the scientific and technical instruments company's stock worth $40,773,000 after purchasing an additional 6,203 shares during the last quarter. Northern Trust Corp lifted its stake in ESCO Technologies by 7.0% in the 4th quarter. Northern Trust Corp now owns 297,264 shares of the scientific and technical instruments company's stock valued at $39,599,000 after buying an additional 19,465 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in ESCO Technologies by 0.5% in the 4th quarter. Royal Bank of Canada now owns 240,952 shares of the scientific and technical instruments company's stock valued at $32,097,000 after buying an additional 1,317 shares in the last quarter. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

ESCO Technologies Trading Up 1.3%

Shares of ESE traded up $2.39 on Wednesday, hitting $193.11. 154,546 shares of the stock traded hands, compared to its average volume of 140,531. ESCO Technologies Inc. has a 1 year low of $101.98 and a 1 year high of $202.65. The stock's 50 day moving average is $178.89 and its two-hundred day moving average is $158.31. The firm has a market capitalization of $4.99 billion, a P/E ratio of 42.35 and a beta of 1.21. The company has a quick ratio of 1.33, a current ratio of 2.05 and a debt-to-equity ratio of 0.05.

ESCO Technologies (NYSE:ESE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share 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 analyst estimates of $264.96 million. During the same quarter in the prior year, the company posted $1.09 EPS. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

ESCO Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut ESCO Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Benchmark lifted their price objective on ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

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.