Kestra Private Wealth Services LLC Invests $427,000 in ESCO Technologies Inc. (NYSE:ESE)

Key Points

• Kestra Private Wealth Services LLC invested $427,000 in ESCO Technologies Inc., acquiring 2,685 shares, as reported in their latest SEC filing.
• ESCO Technologies recently announced a quarterly dividend of $0.08 per share, representing an annualized yield of 0.17% and a payout ratio of 7.02%.
• Benchmark has upgraded its target price for ESCO Technologies from $190.00 to $200.00, while giving the stock a "buy" rating.

Kestra Private Wealth Services LLC bought a new stake in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,685 shares of the scientific and technical instruments company's stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in ESCO Technologies by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 2,907,533 shares of the scientific and technical instruments company's stock valued at $387,312,000 after purchasing an additional 32,306 shares during the period. Wellington Management Group LLP lifted its position in ESCO Technologies by 152.6% during the fourth quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company's stock valued at $50,634,000 after purchasing an additional 229,601 shares during the period. Northern Trust Corp lifted its position in ESCO Technologies by 7.0% during the fourth quarter. Northern Trust Corp now owns 297,264 shares of the scientific and technical instruments company's stock valued at $39,599,000 after purchasing an additional 19,465 shares during the period. Royal Bank of Canada lifted its position in ESCO Technologies by 0.5% during the fourth quarter. Royal Bank of Canada now owns 240,952 shares of the scientific and technical instruments company's stock valued at $32,097,000 after purchasing an additional 1,317 shares during the period. Finally, Federated Hermes Inc. lifted its position in ESCO Technologies by 15.0% during the fourth quarter. Federated Hermes Inc. now owns 184,376 shares of the scientific and technical instruments company's stock valued at $24,561,000 after purchasing an additional 24,023 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

ESCO Technologies Stock Up 1.7%

ESE opened at $191.36 on Friday. ESCO Technologies Inc. has a fifty-two week low of $108.70 and a fifty-two week 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 fifty day moving average of $186.95 and a two-hundred day moving average of $165.33. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 41.96 and a beta of 1.21.

ESCO Technologies (NYSE:ESE - Get Free Report) last released its quarterly earnings data 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. ESCO Technologies had a net margin of 11.01% and a return on equity of 10.56%. The company had revenue of $265.52 million during the quarter, compared to analysts' expectations of $264.96 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

ESCO Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, July 2nd were issued a $0.08 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.17%. ESCO Technologies's payout ratio is 7.02%.

Analysts Set New Price Targets

Separately, Benchmark boosted their target price on shares of ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a research 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.

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