Principal Financial Group Inc. Buys 3,420 Shares of ESCO Technologies Inc. (NYSE:ESE)

Principal Financial Group Inc. lifted its stake in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,686 shares of the scientific and technical instruments company's stock after purchasing an additional 3,420 shares during the quarter. Principal Financial Group Inc. owned 0.50% of ESCO Technologies worth $20,477,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ESE. Opal Wealth Advisors LLC acquired a new stake in shares of ESCO Technologies during the 1st quarter worth $35,000. CX Institutional acquired a new stake in shares of ESCO Technologies during the 1st quarter worth $36,000. Jones Financial Companies Lllp grew its holdings in shares of ESCO Technologies by 747.1% during the 4th quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 254 shares in the last quarter. Huntington National Bank grew its holdings in shares of ESCO Technologies by 150.0% during the 4th quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company's stock worth $41,000 after purchasing an additional 183 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position 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 buying an additional 370 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

ESCO Technologies Trading Up 1.0%

ESCO Technologies stock traded up $1.89 during trading hours on Friday, hitting $193.18. The stock had a trading volume of 109,340 shares, compared to its average volume of 140,099. The company has a quick ratio of 1.33, a current ratio of 2.05 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 42.36 and a beta of 1.21. ESCO Technologies Inc. has a one year low of $108.70 and a one year high of $196.13. The business's 50 day simple moving average is $183.52 and its 200-day simple moving average is $161.39.

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 EPS for the quarter, beating the consensus estimate of $1.25 by $0.10. The firm had revenue of $265.52 million during the quarter, compared to the consensus estimate of $264.96 million. ESCO Technologies had a return on equity of 10.56% and a net margin of 11.01%. The business's quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. On average, equities analysts predict that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Wednesday, July 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $0.32 annualized dividend and a yield of 0.17%. ESCO Technologies's dividend payout ratio is presently 7.02%.

Analysts Set New Price Targets

Several analysts recently weighed in on ESE shares. Benchmark upped their price objective on ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen downgraded ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Friday, March 21st.

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.