Edgestream Partners L.P. Decreases Stake in ESCO Technologies Inc. (NYSE:ESE)

Edgestream Partners L.P. lowered its holdings in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 80.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,739 shares of the scientific and technical instruments company's stock after selling 7,046 shares during the quarter. Edgestream Partners L.P.'s holdings in ESCO Technologies were worth $277,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Opal Wealth Advisors LLC purchased a new position in shares of ESCO Technologies in the first quarter valued at $35,000. CX Institutional purchased a new position in shares of ESCO Technologies in the first quarter valued at $36,000. TD Private Client Wealth LLC purchased a new position in shares of ESCO Technologies in the first quarter valued at $38,000. Huntington National Bank increased its position in shares of 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 buying an additional 183 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of ESCO Technologies by 627.1% in the fourth quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company's stock valued at $57,000 after buying an additional 370 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company's stock.

Analyst Ratings Changes

Separately, 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 Price Performance

ESCO Technologies stock traded down $0.97 during midday trading on Thursday, reaching $188.31. 163,435 shares of the company were exchanged, compared to its average volume of 174,613. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 41.30 and a beta of 1.21. The firm's 50-day simple moving average is $186.80 and its 200-day simple moving average is $164.69. ESCO Technologies Inc. has a 1 year low of $108.70 and a 1 year high of $198.34. 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 results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.25 by $0.10. The company had revenue of $265.52 million during the quarter, compared to analysts' expectations of $264.96 million. ESCO Technologies had a return on equity of 10.56% and a net margin of 11.01%. The firm's revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current year.

ESCO Technologies Announces Dividend

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