ESCO Technologies Inc. (NYSE:ESE) Stake Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in ESCO Technologies Inc. (NYSE:ESE) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,718 shares of the scientific and technical instruments company’s stock after selling 3,191 shares during the period. Mutual of America Capital Management LLC’s holdings in ESCO Technologies were worth $8,269,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank acquired a new position in ESCO Technologies during the 4th quarter valued at about $33,226,000. Public Employees Retirement Association of Colorado boosted its stake in ESCO Technologies by 5,817.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 212,433 shares of the scientific and technical instruments company’s stock valued at $24,861,000 after purchasing an additional 208,843 shares during the period. Norges Bank acquired a new position in ESCO Technologies during the 4th quarter valued at about $20,328,000. Federated Hermes Inc. acquired a new position in ESCO Technologies during the 2nd quarter valued at about $15,632,000. Finally, Tributary Capital Management LLC acquired a new position in ESCO Technologies during the 1st quarter valued at about $12,377,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

ESCO Technologies Stock Up 0.7 %

ESE stock opened at $123.52 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $118.41 and its two-hundred day moving average is $109.41. ESCO Technologies Inc. has a 52 week low of $94.59 and a 52 week high of $127.01. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 32.42 and a beta of 1.08.

ESCO Technologies (NYSE:ESE) last released its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. The business had revenue of $260.78 million during the quarter. On average, analysts forecast that ESCO Technologies Inc. will post 4.15 earnings per share for the current fiscal year.

ESCO Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESCO Technologies’s dividend payout ratio is currently 8.40%.

Analyst Ratings Changes

Separately, Stephens restated an “overweight” rating and set a $125.00 price target on shares of ESCO Technologies in a research report on Tuesday, July 9th.

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.