Allspring Global Investments Holdings LLC Has $5.61 Million Stake in ESCO Technologies Inc. (NYSE:ESE)

Allspring Global Investments Holdings LLC trimmed its stake in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 29.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,366 shares of the scientific and technical instruments company's stock after selling 14,664 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of ESCO Technologies worth $5,612,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Alliancebernstein L.P. raised its position in ESCO Technologies by 1.3% in the 4th quarter. Alliancebernstein L.P. now owns 29,840 shares of the scientific and technical instruments company's stock valued at $3,975,000 after purchasing an additional 384 shares during the last quarter. CX Institutional bought a new stake in shares of ESCO Technologies during the first quarter worth $36,000. Johnson Investment Counsel Inc. acquired a new stake in ESCO Technologies in the first quarter worth about $289,000. Blue Trust Inc. raised its holdings in ESCO Technologies by 88.1% during the 1st quarter. Blue Trust Inc. now owns 666 shares of the scientific and technical instruments company's stock worth $106,000 after purchasing an additional 312 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of ESCO Technologies by 378.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 565 shares of the scientific and technical instruments company's stock worth $75,000 after buying an additional 447 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Benchmark increased 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 lowered ESCO Technologies from a "buy" rating to a "hold" rating in a research note on Friday, March 21st.

ESCO Technologies Stock Performance

NYSE:ESE traded down $4.48 during mid-day trading on Monday, hitting $191.63. 187,031 shares of the stock were exchanged, compared to its average volume of 141,185. 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 firm's 50-day simple moving average is $181.15 and its 200 day simple moving average is $159.86. ESCO Technologies Inc. has a fifty-two week low of $102.55 and a fifty-two week high of $196.13. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 42.02 and a beta of 1.21.

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

ESCO Technologies Dividend Announcement

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