AQR Capital Management LLC Reduces Stock Position in ESCO Technologies Inc. (NYSE:ESE)

AQR Capital Management LLC trimmed its holdings in shares of ESCO Technologies Inc. (NYSE:ESE) by 16.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,065 shares of the scientific and technical instruments company’s stock after selling 829 shares during the quarter. AQR Capital Management LLC’s holdings in ESCO Technologies were worth $427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its position in ESCO Technologies by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,895,420 shares of the scientific and technical instruments company’s stock worth $309,955,000 after acquiring an additional 15,801 shares during the period. Dimensional Fund Advisors LP raised its position in ESCO Technologies by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,372,850 shares of the scientific and technical instruments company’s stock valued at $144,204,000 after purchasing an additional 16,152 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of ESCO Technologies by 6.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock worth $130,077,000 after purchasing an additional 69,500 shares during the last quarter. Conestoga Capital Advisors LLC lifted its stake in ESCO Technologies by 0.3% during the second quarter. Conestoga Capital Advisors LLC now owns 1,029,065 shares of the scientific and technical instruments company’s stock worth $108,093,000 after purchasing an additional 3,146 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in ESCO Technologies by 18.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock worth $29,754,000 after acquiring an additional 43,907 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

ESCO Technologies Stock Performance

ESCO Technologies stock opened at $125.02 on Wednesday. ESCO Technologies Inc. has a fifty-two week low of $94.59 and a fifty-two week high of $130.89. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 32.81 and a beta of 1.08. The stock has a fifty day moving average of $120.80 and a two-hundred day moving average of $112.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.39 and a current ratio of 2.10.

ESCO Technologies (NYSE:ESE) last issued its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share (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 firm had revenue of $260.78 million for the quarter. On average, analysts anticipate that ESCO Technologies Inc. will post 4.15 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Stephens lifted their target price on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, September 27th.

About ESCO Technologies

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.