Commerce Bank Cuts Position in ESCO Technologies Inc. (NYSE:ESE)

Commerce Bank lowered its position in shares of ESCO Technologies Inc. (NYSE:ESE) by 31.9% in the first quarter, Holdings Channel reports. The firm owned 193,397 shares of the scientific and technical instruments company’s stock after selling 90,514 shares during the period. Commerce Bank’s holdings in ESCO Technologies were worth $20,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in ESCO Technologies during the fourth quarter worth approximately $45,000. YHB Investment Advisors Inc. purchased a new stake in ESCO Technologies during the 1st quarter worth $56,000. TFO Wealth Partners LLC increased its holdings in ESCO Technologies by 53,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 533 shares of the scientific and technical instruments company’s stock valued at $62,000 after purchasing an additional 532 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in ESCO Technologies in the first quarter valued at about $126,000. Finally, Lindenwold Advisors INC purchased a new stake in shares of ESCO Technologies in the fourth quarter worth about $203,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

ESCO Technologies Stock Performance

Shares of NYSE ESE traded up $1.39 during trading on Wednesday, reaching $108.23. The stock had a trading volume of 30,316 shares, compared to its average volume of 129,340. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.42 and a current ratio of 2.15. The stock has a market cap of $2.79 billion, a PE ratio of 28.04 and a beta of 1.10. ESCO Technologies Inc. has a one year low of $94.59 and a one year high of $118.60. The firm’s 50 day moving average price is $106.50 and its two-hundred day moving average price is $104.62.

ESCO Technologies (NYSE:ESE) last released its earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.83%. The firm had revenue of $249.10 million during the quarter, compared to analyst estimates of $241.15 million. During the same quarter in the previous year, the firm earned $0.76 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts forecast that ESCO Technologies Inc. will post 4.22 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Wednesday, July 3rd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Wednesday, July 3rd. ESCO Technologies’s payout ratio is 8.40%.

Wall Street Analysts Forecast Growth

Separately, Stephens reaffirmed an “overweight” rating and issued a $125.00 price objective on shares of ESCO Technologies in a research report on Tuesday.

ESCO Technologies Company 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.