Jefferies Financial Group Inc. Purchases Shares of 2,231 ESCO Technologies Inc. (NYSE:ESE)

Key Points

• Jefferies Financial Group Inc. has acquired a new stake in ESCO Technologies Inc., purchasing 2,231 shares valued at approximately $355,000 in the first quarter.
• ESCO Technologies reported $1.60 earnings per share (EPS) for the last quarter, which was below the consensus estimate of $1.65, despite a 13.6% revenue increase year-over-year.
• Research firms recently shifted analysts' ratings on ESCO Technologies, with Wall Street Zen downgrading the stock from "buy" to "hold," while Benchmark raised its target price from $190 to $200.

Jefferies Financial Group Inc. bought a new position in ESCO Technologies Inc. (NYSE:ESE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,231 shares of the scientific and technical instruments company's stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. grew its holdings in shares of ESCO Technologies by 1.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 8,221 shares of the scientific and technical instruments company's stock worth $1,308,000 after purchasing an additional 84 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of ESCO Technologies by 4.8% during the 1st 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 period. CWM LLC grew its holdings in shares of ESCO Technologies by 32.2% during the 1st quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company's stock worth $64,000 after purchasing an additional 98 shares during the period. New York State Teachers Retirement System grew its holdings in shares of ESCO Technologies by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 11,617 shares of the scientific and technical instruments company's stock worth $1,848,000 after purchasing an additional 100 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of ESCO Technologies by 18.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the scientific and technical instruments company's stock worth $107,000 after purchasing an additional 103 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ESE. Benchmark increased their price target on ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen cut ESCO Technologies from a "buy" rating to a "hold" rating in a report on Saturday.

ESCO Technologies Trading Up 2.0%

ESCO Technologies stock traded up $3.83 during midday trading on Friday, reaching $193.70. 486,987 shares of the stock traded hands, compared to its average volume of 144,251. The company has a 50-day simple moving average of $189.35 and a two-hundred day simple moving average of $169.47. ESCO Technologies Inc. has a 12-month low of $113.30 and a 12-month high of $198.34. The firm has a market cap of $5.00 billion, a PE ratio of 43.63 and a beta of 1.23. The company has a current ratio of 2.05, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05.

ESCO Technologies (NYSE:ESE - Get Free Report) last announced its earnings results on Thursday, August 7th. The scientific and technical instruments company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.05). ESCO Technologies had a net margin of 10.37% and a return on equity of 11.36%. The firm had revenue of $296.34 million for the quarter, compared to analysts' expectations of $320.23 million. During the same quarter last year, the business earned $1.16 earnings per share. The business's revenue was up 13.6% compared to the same quarter last year. Research analysts expect that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.

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.