Maryland State Retirement & Pension System Cuts Stock Holdings in ESCO Technologies Inc. (NYSE:ESE)

Maryland State Retirement & Pension System reduced its position in ESCO Technologies Inc. (NYSE:ESE) by 1.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,371 shares of the scientific and technical instruments company’s stock after selling 126 shares during the period. Maryland State Retirement & Pension System’s holdings in ESCO Technologies were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Comerica Bank purchased a new stake in shares of ESCO Technologies during the third quarter valued at $9,239,000. Moody Aldrich Partners LLC purchased a new stake in shares of ESCO Technologies during the 4th quarter valued at about $4,491,000. Allspring Global Investments Holdings LLC grew its stake in shares of ESCO Technologies by 89.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 67,686 shares of the scientific and technical instruments company’s stock worth $7,069,000 after acquiring an additional 32,026 shares during the period. Victory Capital Management Inc. raised its holdings in shares of ESCO Technologies by 76.4% during the fourth quarter. Victory Capital Management Inc. now owns 60,409 shares of the scientific and technical instruments company’s stock valued at $7,070,000 after purchasing an additional 26,156 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its position in ESCO Technologies by 2.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,011,072 shares of the scientific and technical instruments company’s stock valued at $105,596,000 after purchasing an additional 26,040 shares during the period. 95.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th.

ESCO Technologies Price Performance

NYSE ESE opened at $109.33 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.98 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.82 billion, a P/E ratio of 30.37 and a beta of 1.14. The company has a 50-day moving average price of $102.72 and a 200-day moving average price of $104.00. ESCO Technologies Inc. has a 52 week low of $89.77 and a 52 week high of $118.60.

ESCO Technologies (NYSE:ESE) last released its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). ESCO Technologies had a return on equity of 8.59% and a net margin of 9.60%. The business had revenue of $218.30 million during the quarter, compared to the consensus estimate of $221.44 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that ESCO Technologies Inc. will post 4.2 earnings per share for the current year.

Insider Transactions at ESCO Technologies

In other ESCO Technologies news, Director Leon J. Olivier sold 900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total transaction of $90,234.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by company 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.