Allspring Global Investments Holdings LLC Has $7.81 Million Stock Holdings in ESCO Technologies Inc. (NYSE:ESE)

Allspring Global Investments Holdings LLC lowered its holdings in shares of ESCO Technologies Inc. (NYSE:ESE) by 29.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,564 shares of the scientific and technical instruments company’s stock after selling 25,561 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ESCO Technologies were worth $7,812,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its stake in shares of ESCO Technologies by 56.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,440 shares of the scientific and technical instruments company’s stock valued at $1,225,000 after acquiring an additional 4,130 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ESCO Technologies by 48.9% during the first quarter. BNP Paribas Financial Markets now owns 23,703 shares of the scientific and technical instruments company’s stock valued at $2,537,000 after purchasing an additional 7,788 shares during the period. Quantbot Technologies LP bought a new position in shares of ESCO Technologies during the 1st quarter worth about $482,000. Tributary Capital Management LLC acquired a new stake in shares of ESCO Technologies in the 1st quarter valued at about $12,377,000. Finally, Quadrature Capital Ltd increased its position in ESCO Technologies by 291.2% in the 1st quarter. Quadrature Capital Ltd now owns 17,684 shares of the scientific and technical instruments company’s stock valued at $1,893,000 after buying an additional 13,164 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stephens increased their price target on ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Benchmark began coverage on shares of ESCO Technologies in a research report on Monday, October 21st. They issued a “buy” rating and a $150.00 price target for the company.

ESCO Technologies Price Performance

ESE stock opened at $130.00 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.39 and a current ratio of 2.10. The business has a 50-day simple moving average of $122.46 and a two-hundred day simple moving average of $113.89. The company has a market capitalization of $3.35 billion, a P/E ratio of 33.68 and a beta of 1.08. ESCO Technologies Inc. has a 52-week low of $94.59 and a 52-week high of $130.89.

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

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. ESCO Technologies’s dividend payout ratio is currently 8.29%.

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.