Franklin Resources Inc. Acquires 537 Shares of ESCO Technologies Inc. (NYSE:ESE)

Franklin Resources Inc. lifted its holdings in shares of ESCO Technologies Inc. (NYSE:ESE) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,917 shares of the scientific and technical instruments company’s stock after purchasing an additional 537 shares during the period. Franklin Resources Inc.’s holdings in ESCO Technologies were worth $2,608,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in ESE. Bank of New York Mellon Corp boosted its position in shares of 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 purchasing an additional 43,907 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ESCO Technologies by 16.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 86,125 shares of the scientific and technical instruments company’s stock valued at $9,047,000 after purchasing an additional 12,165 shares during the last quarter. Innealta Capital LLC bought a new stake in ESCO Technologies in the second quarter worth about $50,000. Azzad Asset Management Inc. ADV purchased a new stake in ESCO Technologies in the second quarter worth $551,000. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in shares of ESCO Technologies by 35.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 185,850 shares of the scientific and technical instruments company’s stock worth $19,522,000 after purchasing an additional 48,693 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ESE. Stephens raised their price objective on shares of ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. StockNews.com upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of ESCO Technologies in a research note on Friday, November 15th.

ESCO Technologies Stock Up 1.4 %

ESE stock opened at $135.68 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.31. The stock has a market capitalization of $3.50 billion, a P/E ratio of 34.44 and a beta of 1.11. The business has a fifty day moving average price of $138.79 and a 200-day moving average price of $124.29. ESCO Technologies Inc. has a 1-year low of $96.69 and a 1-year high of $154.00.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 annualized dividend and a yield of 0.24%. ESCO Technologies’s payout ratio is 8.12%.

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.