Pinnacle Wealth Management LLC Takes $855,000 Position in ESCO Technologies Inc. $ESE

Key Points

• Pinnacle Wealth Management LLC acquired 5,374 shares of ESCO Technologies Inc. valued at approximately $855,000, making it their 16th largest holding.
• ESCO Technologies reported Q2 earnings of $1.60 per share, missing estimates by $0.05, with revenue of $296.34 million, below the expected $320.23 million.
• The company declared a quarterly dividend of $0.08, to be paid on October 16th, which represents a 0.2% dividend yield annually.

Pinnacle Wealth Management 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 Securities and Exchange Commission. The firm purchased 5,374 shares of the scientific and technical instruments company's stock, valued at approximately $855,000. ESCO Technologies comprises approximately 1.0% of Pinnacle Wealth Management LLC's portfolio, making the stock its 16th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of ESCO Technologies in the 1st quarter worth $35,000. CX Institutional purchased a new stake in shares of ESCO Technologies during the 1st quarter worth $36,000. TD Private Client Wealth LLC purchased a new stake in shares of ESCO Technologies during the 1st quarter worth $38,000. Sterling Capital Management LLC lifted its stake in shares of ESCO Technologies by 627.1% during the 4th quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company's stock worth $57,000 after purchasing an additional 370 shares during the last quarter. Finally, CWM LLC increased its position in ESCO Technologies by 32.2% during the 1st quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company's stock.

ESCO Technologies Stock Down 2.0%

ESE stock opened at $184.47 on Monday. The firm has a market cap of $4.76 billion, a PE ratio of 41.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.52. The firm's fifty day moving average is $190.43 and its 200 day moving average is $171.83. ESCO Technologies Inc. has a one year low of $113.30 and a one year high of $201.72.

ESCO Technologies (NYSE:ESE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The scientific and technical instruments company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.05). ESCO Technologies had a net margin of 10.37% and a return on equity of 11.19%. The business had revenue of $296.34 million during the quarter, compared to analyst estimates of $320.23 million. During the same period in the previous year, the business posted $1.16 earnings per share. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. On average, research analysts forecast that ESCO Technologies Inc. will post 5.65 EPS for the current year.

ESCO Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. ESCO Technologies's payout ratio is currently 7.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of ESCO Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Benchmark increased their price objective on ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a report 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.

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