Victory Capital Management Inc. Cuts Position in ESCO Technologies Inc. (NYSE:ESE)

Victory Capital Management Inc. lowered its position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,220 shares of the scientific and technical instruments company's stock after selling 10,460 shares during the quarter. Victory Capital Management Inc. owned 0.23% of ESCO Technologies worth $9,423,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of ESCO Technologies by 215.4% during the 4th quarter. HighTower Advisors LLC now owns 7,813 shares of the scientific and technical instruments company's stock worth $1,041,000 after purchasing an additional 5,336 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in ESCO Technologies by 3.1% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,919 shares of the scientific and technical instruments company's stock worth $389,000 after buying an additional 88 shares during the period. Corient Private Wealth LLC lifted its position in shares of ESCO Technologies by 11.0% during the 4th quarter. Corient Private Wealth LLC now owns 3,038 shares of the scientific and technical instruments company's stock valued at $405,000 after acquiring an additional 302 shares during the period. Xponance Inc. lifted its position in shares of ESCO Technologies by 8.7% during the 4th quarter. Xponance Inc. now owns 1,839 shares of the scientific and technical instruments company's stock valued at $245,000 after acquiring an additional 147 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of ESCO Technologies by 0.8% during the 4th quarter. Sei Investments Co. now owns 25,248 shares of the scientific and technical instruments company's stock worth $3,363,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company's stock.

ESCO Technologies Price Performance

Shares of NYSE ESE traded up $3.14 on Friday, hitting $191.36. The company's stock had a trading volume of 98,864 shares, compared to its average volume of 166,866. The stock has a 50 day moving average of $186.95 and a 200-day moving average of $165.10. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 41.96 and a beta of 1.21. ESCO Technologies Inc. has a 12-month low of $108.70 and a 12-month high of $198.34. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.05 and a quick ratio of 1.33.

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 for the quarter, topping the consensus estimate of $1.25 by $0.10. The company 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%. ESCO Technologies's revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. As a group, research analysts predict that ESCO Technologies Inc. will post 5.65 EPS for the current year.

ESCO Technologies Announces Dividend

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

Analyst Ratings Changes

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