ESCO Technologies Inc. (NYSE:ESE) Shares Sold by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has reduced its stake in ESCO Technologies Inc. by 16.3% in the first quarter, selling 30,054 shares and retaining ownership of 154,322 shares valued at approximately $24.56 million.
• ESCO Technologies reported a quarterly earnings per share of $1.35, surpassing analysts' expectations and showing a revenue increase of 6.6% year-over-year, reaching $265.52 million.
• The company declared a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 0.2%, with a dividend payout ratio of 7.02%.

Federated Hermes Inc. lessened its position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 16.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,322 shares of the scientific and technical instruments company's stock after selling 30,054 shares during the quarter. Federated Hermes Inc. owned 0.60% of ESCO Technologies worth $24,556,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ESE. Alliancebernstein L.P. raised its holdings 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 worth $3,975,000 after purchasing an additional 384 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of ESCO Technologies by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,047 shares of the scientific and technical instruments company's stock valued at $326,000 after acquiring an additional 93 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of 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 acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of ESCO Technologies by 18.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the scientific and technical instruments company's stock valued at $107,000 after acquiring an additional 103 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of ESCO Technologies during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 95.70% of the company's stock.

ESCO Technologies Trading Up 0.4%

ESCO Technologies stock traded up $0.85 during mid-day trading on Monday, hitting $192.39. The company's stock had a trading volume of 29,777 shares, compared to its average volume of 160,588. The firm has a market capitalization of $4.97 billion, a PE ratio of 42.22 and a beta of 1.23. ESCO Technologies Inc. has a 1 year low of $108.70 and a 1 year high of $198.34. The company has a current ratio of 2.05, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock's fifty day moving average is $188.24 and its two-hundred day moving average is $167.71.

ESCO Technologies (NYSE:ESE - Get Free Report) last issued 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. The company had revenue of $265.52 million during the quarter, compared to analyst estimates 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 for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. On average, analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current year.

ESCO Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Benchmark increased their target price 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 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.