Jennison Associates LLC Purchases Shares of 5,022 ESCO Technologies Inc. (NYSE:ESE)

Jennison Associates LLC purchased a new position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,022 shares of the scientific and technical instruments company's stock, valued at approximately $799,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pitcairn Co. raised its holdings in ESCO Technologies by 2.0% during the 4th quarter. Pitcairn Co. now owns 3,479 shares of the scientific and technical instruments company's stock worth $463,000 after purchasing an additional 68 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of ESCO Technologies by 3.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,919 shares of the scientific and technical instruments company's stock valued at $389,000 after acquiring an additional 88 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of ESCO Technologies by 4.8% in the 1st 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. CWM LLC increased its stake in shares of ESCO Technologies by 32.2% in the 1st quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $64,000 after acquiring an additional 98 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of ESCO Technologies by 0.9% in the 1st 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. Institutional investors and hedge funds own 95.70% of the company's stock.

ESCO Technologies Stock Down 0.3%

NYSE ESE traded down $0.51 during trading hours on Thursday, reaching $188.78. 36,836 shares of the company's stock were exchanged, compared to its average volume of 160,857. The company's 50-day moving average is $186.67 and its two-hundred day moving average is $164.30. ESCO Technologies Inc. has a one year low of $108.70 and a one 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. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 41.51 and a beta of 1.21.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.10. ESCO Technologies had a return on equity of 10.56% and a net margin of 11.01%. The business had revenue of $265.52 million during the quarter, compared to analysts' expectations of $264.96 million. During the same period in the prior year, the business earned $1.09 EPS. ESCO Technologies's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, analysts forecast that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal 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 given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Wednesday, July 2nd. ESCO Technologies's dividend payout ratio (DPR) is currently 7.02%.

Wall Street Analyst Weigh In

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

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.