First Mercantile Trust Co. reduced its stake in shares of Esco Technologies Inc. (NYSE:ESE) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 3,955 shares of the company’s stock after selling 140 shares during the period. First Mercantile Trust Co.’s holdings in Esco Technologies were worth $158,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC raised its stake in shares of Esco Technologies by 13.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,085,180 shares of the company’s stock valued at $42,301,000 after buying an additional 125,617 shares during the period. Prudential Financial Inc. raised its stake in shares of Esco Technologies by 2.8% in the first quarter. Prudential Financial Inc. now owns 61,823 shares of the company’s stock valued at $2,410,000 after buying an additional 1,700 shares during the period. Norges Bank bought a new stake in shares of Esco Technologies during the fourth quarter valued at about $9,022,000. Blair William & Co. IL raised its stake in shares of Esco Technologies by 0.9% in the second quarter. Blair William & Co. IL now owns 8,090 shares of the company’s stock valued at $323,000 after buying an additional 70 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Esco Technologies by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,816,704 shares of the company’s stock valued at $70,815,000 after buying an additional 94,558 shares during the period. Institutional investors and hedge funds own 94.39% of the company’s stock.
Esco Technologies Inc. (NYSE:ESE) opened at 46.56 on Thursday. The stock has a 50 day moving average of $45.70 and a 200 day moving average of $41.60. The stock has a market capitalization of $1.20 billion, a P/E ratio of 28.72 and a beta of 1.15. Esco Technologies Inc. has a 1-year low of $31.50 and a 1-year high of $47.39.
Esco Technologies (NYSE:ESE) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. Esco Technologies had a net margin of 7.42% and a return on equity of 8.10%. The firm earned $140.20 million during the quarter, compared to the consensus estimate of $145.57 million. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that Esco Technologies Inc. will post $2.00 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%.
ESE has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Esco Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 target price on shares of Esco Technologies in a research report on Thursday, August 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $42.67.
In other Esco Technologies news, Director Larry W. Solley sold 4,500 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $43.40, for a total transaction of $195,300.00. Following the completion of the transaction, the director now owns 25,150 shares in the company, valued at approximately $1,091,510. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.
Esco Technologies Company Profile
ESCO Technologies Inc is engaged in the production of engineered products and systems. The Company’s products are sold around the world for utility, industrial, aerospace and commercial applications. It conducts its business in three segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test) and Utility Solutions Group (USG).
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