Teacher Retirement System of Texas Reduces Stake in ESCO Technologies Inc. (NYSE:ESE)

Teacher Retirement System of Texas lessened its stake in ESCO Technologies Inc. (NYSE:ESE - Free Report) by 21.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,238 shares of the scientific and technical instruments company's stock after selling 10,249 shares during the period. Teacher Retirement System of Texas owned about 0.14% of ESCO Technologies worth $5,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESE. Opal Wealth Advisors LLC bought a new position in ESCO Technologies during the 1st quarter valued at approximately $35,000. CX Institutional purchased a new position in shares of ESCO Technologies during the 1st quarter worth approximately $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 acquiring an additional 254 shares during the period. 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 acquiring an additional 183 shares during the period. Finally, Sterling Capital Management LLC grew its holdings 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 acquiring an additional 370 shares during the period. Institutional investors own 95.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wall Street Zen downgraded ESCO Technologies from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Benchmark upped their target price on ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

ESCO Technologies Stock Down 2.3%

Shares of ESCO Technologies stock traded down $4.48 during midday trading on Monday, hitting $191.63. The company had a trading volume of 187,031 shares, compared to its average volume of 141,182. 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 stock has a market capitalization of $4.95 billion, a P/E ratio of 42.02 and a beta of 1.21. The company has a 50 day moving average of $180.42 and a 200 day moving average of $159.47. ESCO Technologies Inc. has a 52-week low of $102.55 and a 52-week high of $196.13.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.10. The company had revenue of $265.52 million for 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 firm's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 EPS. On average, equities analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, July 2nd will be paid a $0.08 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.17%. ESCO Technologies's dividend payout ratio (DPR) is currently 7.02%.

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.