ESCO Technologies Inc. (NYSE:ESE) Holdings Cut by XTX Topco Ltd

Key Points

• XTX Topco Ltd reduced its holdings in ESCO Technologies Inc. by 50.2%, selling 4,342 shares during the first quarter.
• ESCO Technologies reported $1.35 EPS for the quarter, exceeding expectations, with a 6.6% year-over-year revenue increase.
• Benchmark upgraded ESCO Technologies' price target from $190.00 to $200.00 and assigned a "buy" rating.

XTX Topco Ltd lowered its holdings in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 50.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,306 shares of the scientific and technical instruments company's stock after selling 4,342 shares during the period. XTX Topco Ltd's holdings in ESCO Technologies were worth $685,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Harvest Fund Management Co. Ltd bought a new position in ESCO Technologies in the first quarter worth about $169,000. Marco Investment Management LLC bought a new stake in shares of ESCO Technologies during the first quarter valued at approximately $225,000. LPL Financial LLC raised its holdings in shares of ESCO Technologies by 15.5% during the first quarter. LPL Financial LLC now owns 14,866 shares of the scientific and technical instruments company's stock valued at $2,366,000 after buying an additional 2,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ESCO Technologies by 13.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,703 shares of the scientific and technical instruments company's stock valued at $1,226,000 after buying an additional 928 shares during the last quarter. Finally, ANB Bank bought a new stake in shares of ESCO Technologies during the first quarter valued at approximately $242,000. Institutional investors own 95.70% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Benchmark lifted their price target on ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a report on Friday, May 9th.

ESCO Technologies Price Performance

Shares of NYSE:ESE opened at $193.63 on Tuesday. ESCO Technologies Inc. has a 12 month low of $108.70 and a 12 month high of $198.34. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 42.46 and a beta of 1.23. The stock's 50 day moving average price is $188.24 and its 200 day moving average price is $167.71. 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 (NYSE:ESE - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.25 by $0.10. ESCO Technologies had a return on equity of 10.56% and a net margin of 11.01%. The firm had revenue of $265.52 million for the quarter, compared to analysts' expectations of $264.96 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $0.32 annualized dividend and a yield of 0.2%. ESCO Technologies's payout ratio is presently 7.02%.

About ESCO Technologies

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.

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