Bank of New York Mellon Corp Has $35.37 Million Stock Position in ESCO Technologies Inc. (NYSE:ESE)

Bank of New York Mellon Corp reduced its position in ESCO Technologies Inc. (NYSE:ESE) by 6.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 222,288 shares of the scientific and technical instruments company’s stock after selling 16,024 shares during the period. Bank of New York Mellon Corp owned about 0.86% of ESCO Technologies worth $35,370,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in ESCO Technologies by 152.6% during the 4th quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company’s stock worth $50,634,000 after purchasing an additional 229,601 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ESCO Technologies by 18,682.3% during the 1st quarter. GAMMA Investing LLC now owns 107,247 shares of the scientific and technical instruments company’s stock worth $17,065,000 after purchasing an additional 106,676 shares during the last quarter. Norges Bank acquired a new stake in ESCO Technologies during the 4th quarter worth approximately $13,066,000. Rockefeller Capital Management L.P. acquired a new stake in shares of ESCO Technologies in the fourth quarter valued at approximately $11,435,000. Finally, JPMorgan Chase & Co. raised its position in shares of ESCO Technologies by 87.3% in the fourth quarter. JPMorgan Chase & Co. now owns 144,039 shares of the scientific and technical instruments company’s stock valued at $19,187,000 after buying an additional 67,116 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors and hedge funds.

ESCO Technologies Price Performance

Shares of NYSE:ESE opened at $192.58 on Tuesday. The firm has a 50 day moving average of $183.52 and a 200-day moving average of $161.39. ESCO Technologies Inc. has a 12 month low of $108.70 and a 12 month high of $196.13. The company has a current ratio of 2.05, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.97 billion, a PE ratio of 42.23 and a beta of 1.21.

ESCO Technologies (NYSE:ESE) last issued its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.10. ESCO Technologies had a net margin of 11.01% and a return on equity of 10.56%. The company had revenue of $265.52 million during the quarter, compared to the consensus estimate of $264.96 million. During the same quarter in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts predict that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.17%. The ex-dividend date is Wednesday, July 2nd. ESCO Technologies’s payout ratio is 7.02%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESE. Benchmark lifted their price target on shares of ESCO Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Wall Street Zen downgraded shares of ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

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.