Mutual of America Capital Management LLC reduced its stake in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 71,478 shares of the scientific and technical instruments company's stock after selling 5,589 shares during the quarter. Mutual of America Capital Management LLC owned about 0.28% of ESCO Technologies worth $11,374,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in ESCO Technologies in the 1st quarter worth approximately $35,000. CX Institutional acquired a new position in ESCO Technologies in the 1st quarter worth approximately $36,000. Jones Financial Companies Lllp increased its holdings in ESCO Technologies by 747.1% in the 4th quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company's stock worth $38,000 after buying an additional 254 shares during the period. TD Private Client Wealth LLC acquired a new position in ESCO Technologies in the 1st quarter worth approximately $38,000. Finally, Huntington National Bank increased its holdings in ESCO Technologies by 150.0% in the 4th quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company's stock worth $41,000 after buying an additional 183 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on ESE shares. Wall Street Zen downgraded shares of ESCO Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Benchmark raised their price objective on shares of ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, May 9th.
View Our Latest Research Report on ESE
ESCO Technologies Stock Performance
Shares of NYSE ESE traded up $3.00 during midday trading on Thursday, reaching $197.80. 159,178 shares of the stock were exchanged, compared to its average volume of 138,072. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 43.38 and a beta of 1.21. ESCO Technologies Inc. has a twelve month low of $108.70 and a twelve month high of $198.43. The firm has a 50-day simple moving average of $185.70 and a two-hundred day simple moving average of $162.67. The company has a quick ratio of 1.33, a current ratio of 2.05 and a debt-to-equity ratio of 0.05.
ESCO Technologies (NYSE:ESE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share (EPS) 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 firm had revenue of $265.52 million for the quarter, compared to analysts' expectations of $264.96 million. During the same quarter last year, the company earned $1.09 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.
ESCO Technologies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.16%. ESCO Technologies's dividend payout ratio is currently 7.02%.
About ESCO Technologies
(
Free Report)
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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