Dimensional Fund Advisors LP reduced its stake in ESCO Technologies Inc. (NYSE:ESE – Free Report) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 726,910 shares of the scientific and technical instruments company’s stock after selling 125,422 shares during the period. Dimensional Fund Advisors LP owned approximately 2.81% of ESCO Technologies worth $153,449,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ESE. Root Financial Partners LLC acquired a new position in shares of ESCO Technologies during the third quarter worth about $27,000. Private Trust Co. NA boosted its position in shares of ESCO Technologies by 118.5% in the third quarter. Private Trust Co. NA now owns 142 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 77 shares during the period. First Horizon Corp acquired a new stake in shares of ESCO Technologies in the third quarter valued at about $36,000. Osterweis Capital Management Inc. purchased a new stake in shares of ESCO Technologies during the 2nd quarter valued at about $39,000. Finally, Westside Investment Management Inc. raised its holdings in shares of ESCO Technologies by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 188 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 94 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.
ESCO Technologies Stock Down 0.2%
Shares of NYSE ESE opened at $270.64 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.89 and a current ratio of 1.33. ESCO Technologies Inc. has a 1 year low of $134.78 and a 1 year high of $291.31. The stock’s 50-day simple moving average is $243.65 and its 200-day simple moving average is $221.55. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 23.03 and a beta of 1.16.
ESCO Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, April 2nd. ESCO Technologies’s dividend payout ratio is presently 2.72%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ESE. CJS Securities upgraded ESCO Technologies to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research upgraded shares of ESCO Technologies to a “hold” rating in a research note on Tuesday, December 16th. Wall Street Zen cut shares of ESCO Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 15th. Finally, Weiss Ratings downgraded shares of ESCO Technologies from a “buy (a-)” rating to a “buy (b)” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, ESCO Technologies currently has an average rating of “Buy” and an average target price of $200.00.
Read Our Latest Research Report on ESE
About ESCO Technologies
ESCO Technologies Inc is a diversified manufacturer of engineered products and systems designed to meet customers’ critical performance requirements in the test, measurement, control, and filtration of data, fluids, and gases. The company serves a wide range of end markets, including commercial aerospace, defense, industrial, medical, and communication network sectors. ESCO’s solutions are tailored to environments where reliability, precision and regulatory compliance are paramount.
Operating through multiple business segments, ESCO Technologies delivers test and measurement instruments such as RF and microwave components, signal distribution systems, and integrated test enclosures that support defense and aerospace programs.
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