ESCO Technologies Inc. (ESE) Position Reduced by Comerica Bank
Comerica Bank lessened its stake in ESCO Technologies Inc. (NYSE:ESE) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,095 shares of the scientific and technical instruments company’s stock after selling 1,399 shares during the quarter. Comerica Bank owned approximately 0.10% of ESCO Technologies worth $1,693,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in ESCO Technologies by 46,624.3% in the 1st quarter. BlackRock Inc. now owns 3,078,663 shares of the scientific and technical instruments company’s stock worth $178,871,000 after acquiring an additional 3,072,074 shares in the last quarter. Vanguard Group Inc. increased its holdings in ESCO Technologies by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 2,238,580 shares of the scientific and technical instruments company’s stock worth $130,062,000 after acquiring an additional 124,629 shares in the last quarter. Wellington Management Group LLP increased its holdings in ESCO Technologies by 1.2% in the 1st quarter. Wellington Management Group LLP now owns 1,824,230 shares of the scientific and technical instruments company’s stock worth $105,988,000 after acquiring an additional 21,220 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ESCO Technologies by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,812,736 shares of the scientific and technical instruments company’s stock worth $105,320,000 after acquiring an additional 7,182 shares in the last quarter. Finally, State Street Corp increased its holdings in ESCO Technologies by 5.2% in the 1st quarter. State Street Corp now owns 628,238 shares of the scientific and technical instruments company’s stock worth $36,498,000 after acquiring an additional 31,111 shares in the last quarter. 94.10% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Wunderlich assumed coverage on shares of ESCO Technologies in a report on Tuesday, June 13th. They set a “buy” rating and a $71.00 target price for the company. FBR & Co reaffirmed an “outperform” rating on shares of ESCO Technologies in a report on Tuesday, July 11th. Finally, BidaskClub lowered shares of ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $66.50.
Shares of ESCO Technologies Inc. (NYSE:ESE) opened at 54.95 on Tuesday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 27.75 and a beta of 1.04. ESCO Technologies Inc. has a 12-month low of $42.95 and a 12-month high of $63.80. The stock’s 50 day moving average is $56.59 and its 200-day moving average is $57.63.
ESCO Technologies (NYSE:ESE) last announced its quarterly earnings results on Tuesday, August 8th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. ESCO Technologies had a return on equity of 8.36% and a net margin of 8.06%. The business had revenue of $172 million during the quarter, compared to analysts’ expectations of $172 million. During the same quarter last year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts anticipate that ESCO Technologies Inc. will post $2.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Tuesday, October 3rd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, October 2nd. ESCO Technologies’s dividend payout ratio is currently 16.16%.
About ESCO Technologies
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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