State Street Corp Acquires 31,111 Shares of ESCO Technologies Inc. (NYSE:ESE)
State Street Corp raised its stake in ESCO Technologies Inc. (NYSE:ESE) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 628,238 shares of the scientific and technical instruments company’s stock after buying an additional 31,111 shares during the period. State Street Corp owned about 2.42% of ESCO Technologies worth $36,498,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Bank of America Corp DE boosted its position in ESCO Technologies by 23.1% in the first quarter. Bank of America Corp DE now owns 192,582 shares of the scientific and technical instruments company’s stock valued at $11,189,000 after buying an additional 36,149 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in ESCO Technologies by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 147,380 shares of the scientific and technical instruments company’s stock worth $8,563,000 after buying an additional 9,407 shares during the last quarter. Amalgamated Bank purchased a new position in ESCO Technologies during the first quarter worth about $200,000. BlackRock Inc. boosted its position in ESCO Technologies by 46,624.3% in the first quarter. BlackRock Inc. now owns 3,078,663 shares of the scientific and technical instruments company’s stock worth $178,871,000 after buying an additional 3,072,074 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in ESCO Technologies during the first quarter worth about $511,000. Institutional investors and hedge funds own 97.58% of the company’s stock.
ESCO Technologies Inc. (NYSE:ESE) opened at 53.45 on Thursday. The firm’s 50-day moving average price is $60.51 and its 200-day moving average price is $57.94. ESCO Technologies Inc. has a 52-week low of $42.94 and a 52-week high of $63.80. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 26.99 and a beta of 1.01.
ESCO Technologies (NYSE:ESE) last posted its quarterly earnings data on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.01. ESCO Technologies had a net margin of 8.29% and a return on equity of 8.42%. The firm had revenue of $172 million during the quarter, compared to analysts’ expectations of $172 million. During the same quarter last year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities analysts anticipate that ESCO Technologies Inc. will post $2.22 EPS for the current year.
A number of equities analysts have recently issued reports on ESE shares. FBR & Co reiterated an “outperform” rating on shares of ESCO Technologies in a report on Tuesday, July 11th. BidaskClub cut ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Wunderlich started coverage on ESCO Technologies in a report on Tuesday, June 13th. They set a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $66.50.
ESCO Technologies Company Profile
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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