Federated Hermes Inc. lessened its position in ESCO Technologies Inc. (NYSE:ESE – Free Report) by 11.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,904 shares of the scientific and technical instruments company’s stock after selling 17,418 shares during the quarter. Federated Hermes Inc. owned approximately 0.53% of ESCO Technologies worth $26,268,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of ESE. Brown Advisory Inc. acquired a new position in ESCO Technologies in the 2nd quarter valued at about $241,000. First Trust Advisors LP boosted its stake in shares of ESCO Technologies by 25.3% in the second quarter. First Trust Advisors LP now owns 42,239 shares of the scientific and technical instruments company’s stock valued at $8,104,000 after purchasing an additional 8,539 shares during the period. Kennedy Capital Management LLC purchased a new stake in ESCO Technologies during the 2nd quarter worth approximately $2,588,000. Invesco Ltd. lifted its holdings in ESCO Technologies by 345.8% during the 2nd quarter. Invesco Ltd. now owns 707,244 shares of the scientific and technical instruments company’s stock worth $135,699,000 after buying an additional 548,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in ESCO Technologies in the 2nd quarter valued at approximately $1,659,000. Institutional investors and hedge funds own 95.70% of the company’s stock.
ESCO Technologies Stock Up 0.1%
ESE stock opened at $198.34 on Wednesday. The company’s 50 day moving average is $213.84 and its two-hundred day moving average is $200.99. ESCO Technologies Inc. has a twelve month low of $127.17 and a twelve month high of $229.46. The company has a current ratio of 1.35, a quick ratio of 0.93 and a debt-to-equity ratio of 0.11. The stock has a market cap of $5.13 billion, a P/E ratio of 17.17 and a beta of 1.22.
ESCO Technologies Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, January 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, January 2nd. ESCO Technologies’s dividend payout ratio (DPR) is currently 2.77%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on ESE. Weiss Ratings reiterated a “buy (a)” rating on shares of ESCO Technologies in a research note on Monday. Wall Street Zen raised ESCO Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $187.50.
Read Our Latest Research Report on ESCO Technologies
Insider Transactions at ESCO Technologies
In other ESCO Technologies news, Director Vinod M. Khilnani sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $217.99, for a total transaction of $653,970.00. Following the transaction, the director directly owned 20,468 shares of the company’s stock, valued at approximately $4,461,819.32. This trade represents a 12.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bryan H. Sayler sold 9,382 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $220.00, for a total transaction of $2,064,040.00. Following the completion of the sale, the chief executive officer directly owned 20,655 shares of the company’s stock, valued at $4,544,100. The trade was a 31.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,699 shares of company stock worth $4,778,734. 0.70% of the stock is currently owned by corporate insiders.
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.
Featured Articles
- Five stocks we like better than ESCO Technologies
- How is Compound Interest Calculated?
- Consumers Got Coal, But Santa Dropped Off Big Gains for These 2 Retailers
- What Are the FAANG Stocks and Are They Good Investments?
- 10X Gains? These 3 Robotics Stocks Could Explode by 2035
- Want to Profit on the Downtrend? Downtrends, Explained.
- Anheuser-Busch Buys BeatBox to Win Over Younger Drinkers
Receive News & Ratings for ESCO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESCO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
