Allspring Global Investments Holdings LLC Raises Holdings in ESCO Technologies Inc. (NYSE:ESE)

Allspring Global Investments Holdings LLC lifted its stake in ESCO Technologies Inc. (NYSE:ESE) by 17.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 79,516 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,830 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ESCO Technologies were worth $9,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ESE. Advisor Group Holdings Inc. raised its holdings in ESCO Technologies by 45.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,265 shares of the scientific and technical instruments company’s stock worth $158,000 after purchasing an additional 709 shares during the period. Citigroup Inc. raised its holdings in ESCO Technologies by 19.6% in the 1st quarter. Citigroup Inc. now owns 24,387 shares of the scientific and technical instruments company’s stock worth $1,705,000 after purchasing an additional 4,005 shares during the period. MetLife Investment Management LLC raised its holdings in ESCO Technologies by 54.4% in the 1st quarter. MetLife Investment Management LLC now owns 13,675 shares of the scientific and technical instruments company’s stock worth $956,000 after purchasing an additional 4,820 shares during the period. Rhumbline Advisers raised its holdings in ESCO Technologies by 1.0% in the 1st quarter. Rhumbline Advisers now owns 74,783 shares of the scientific and technical instruments company’s stock worth $5,229,000 after purchasing an additional 728 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in ESCO Technologies by 13.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,408 shares of the scientific and technical instruments company’s stock worth $1,567,000 after purchasing an additional 2,711 shares during the period. Institutional investors and hedge funds own 95.70% of the company’s stock.

Insider Activity at ESCO Technologies

In related news, Director Leon J. Olivier sold 900 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total value of $90,234.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

ESCO Technologies Price Performance

Shares of ESCO Technologies stock opened at $98.79 on Wednesday. The business has a 50 day simple moving average of $102.12 and a two-hundred day simple moving average of $104.04. ESCO Technologies Inc. has a 12 month low of $89.77 and a 12 month high of $118.60. The stock has a market capitalization of $2.55 billion, a P/E ratio of 27.44 and a beta of 1.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.31.

ESCO Technologies (NYSE:ESE) last announced its earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). ESCO Technologies had a net margin of 9.60% and a return on equity of 8.59%. The firm had revenue of $218.30 million for the quarter, compared to analyst estimates of $221.44 million. During the same period in the previous year, the company earned $0.60 EPS. ESCO Technologies’s revenue was up 6.2% compared to the same quarter last year. As a group, analysts predict that ESCO Technologies Inc. will post 4.2 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. ESCO Technologies’s dividend payout ratio is presently 8.89%.

Analyst Ratings Changes

ESE has been the subject of a number of analyst reports. Sidoti cut ESCO Technologies from a “buy” rating to a “neutral” rating in a report on Friday, January 5th. StockNews.com cut ESCO Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 17th.

ESCO Technologies 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.