Cable Hill Partners LLC Makes New Investment in ESCO Technologies Inc. (NYSE:ESE)

Cable Hill Partners LLC bought a new position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,984 shares of the scientific and technical instruments company's stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in ESCO Technologies in the first quarter worth about $35,000. CX Institutional acquired a new position in ESCO Technologies in the first quarter worth about $36,000. Jones Financial Companies Lllp grew its stake in 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 purchasing an additional 254 shares in the last quarter. TD Private Client Wealth LLC acquired a new position in ESCO Technologies in the first quarter valued at approximately $38,000. Finally, Huntington National Bank boosted its stake in ESCO Technologies by 150.0% in the fourth quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company's stock valued at $41,000 after acquiring an additional 183 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ESCO Technologies Price Performance

Shares of NYSE ESE traded down $1.52 during trading on Friday, hitting $196.01. The company had a trading volume of 128,528 shares, compared to its average volume of 137,923. The company has a market cap of $5.06 billion, a P/E ratio of 42.98 and a beta of 1.21. ESCO Technologies Inc. has a 52 week low of $108.70 and a 52 week high of $198.34. The business's 50-day moving average is $186.12 and its 200 day moving average is $163.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 2.05.

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 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.10. ESCO Technologies had a net margin of 11.01% and a return on equity of 10.56%. The firm had revenue of $265.52 million for the quarter, compared to analysts' expectations of $264.96 million. During the same period in the previous year, the company posted $1.09 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

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