Commerce Bank Sells 10,000 Shares of ESCO Technologies Inc. (NYSE:ESE)

Commerce Bank decreased its position in ESCO Technologies Inc. (NYSE:ESE) by 35.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,540 shares of the scientific and technical instruments company’s stock after selling 10,000 shares during the quarter. Commerce Bank owned approximately 0.07% of ESCO Technologies worth $2,950,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pitcairn Co. increased its position in ESCO Technologies by 2.0% in the fourth quarter. Pitcairn Co. now owns 3,479 shares of the scientific and technical instruments company’s stock worth $463,000 after buying an additional 68 shares in the last quarter. Avantax Advisory Services Inc. increased its position in ESCO Technologies by 1.0% in the first quarter. Avantax Advisory Services Inc. now owns 8,221 shares of the scientific and technical instruments company’s stock worth $1,308,000 after buying an additional 84 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in ESCO Technologies by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,047 shares of the scientific and technical instruments company’s stock worth $326,000 after buying an additional 93 shares in the last quarter. CWM LLC increased its position in ESCO Technologies by 32.2% in the first quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company’s stock worth $64,000 after buying an additional 98 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in ESCO Technologies by 0.9% in the first quarter. New York State Teachers Retirement System now owns 11,617 shares of the scientific and technical instruments company’s stock worth $1,848,000 after buying an additional 100 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

ESCO Technologies Stock Performance

NYSE:ESE opened at $191.04 on Monday. The company has a current ratio of 2.05, a quick ratio of 1.33 and a debt-to-equity ratio of 0.05. ESCO Technologies Inc. has a 12-month low of $108.70 and a 12-month high of $198.34. The stock has a 50-day moving average price of $188.24 and a 200 day moving average price of $167.71. The stock has a market capitalization of $4.93 billion, a P/E ratio of 41.89 and a beta of 1.23.

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

ESCO Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. ESCO Technologies’s dividend payout ratio (DPR) is currently 7.02%.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price target on ESCO Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, May 9th.

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.