Commerce Bank Cuts Position in ESCO Technologies Inc. (NYSE:ESE)

Commerce Bank lowered its holdings in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 35.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,540 shares of the scientific and technical instruments company's stock after selling 10,000 shares during the period. Commerce Bank owned about 0.07% of ESCO Technologies worth $2,950,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. Pitcairn Co. grew its position in shares of ESCO Technologies by 2.0% during the fourth quarter. Pitcairn Co. now owns 3,479 shares of the scientific and technical instruments company's stock worth $463,000 after purchasing an additional 68 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in ESCO Technologies by 1.0% in the 1st quarter. Avantax Advisory Services Inc. now owns 8,221 shares of the scientific and technical instruments company's stock valued at $1,308,000 after acquiring an additional 84 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of ESCO Technologies by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,047 shares of the scientific and technical instruments company's stock worth $326,000 after purchasing an additional 93 shares during the last quarter. CWM LLC grew its holdings in ESCO Technologies by 32.2% during the 1st quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 98 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in ESCO Technologies by 0.9% during the first quarter. New York State Teachers Retirement System now owns 11,617 shares of the scientific and technical instruments company's stock valued at $1,848,000 after purchasing an additional 100 shares during the last quarter. 95.70% of the stock is owned by institutional investors.

ESCO Technologies Trading Down 1.0%

NYSE ESE traded down $1.93 during trading on Thursday, hitting $190.07. The stock had a trading volume of 47,183 shares, compared to its average volume of 160,943. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 2.05. The stock has a 50 day simple moving average of $188.93 and a 200 day simple moving average of $168.45. ESCO Technologies Inc. has a one year low of $111.06 and a one year high of $198.34. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 41.68 and a beta of 1.23.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $265.52 million for the quarter, compared to analysts' expectations of $264.96 million. ESCO Technologies had a net margin of 11.01% and a return on equity of 10.56%. The business's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 earnings per share. Sell-side analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

Analyst Ratings Changes

Separately, Benchmark boosted their target price on ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a research report 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.