Pitcairn Co. Has $440,000 Stock Position in ESCO Technologies Inc. (NYSE:ESE)

Pitcairn Co. reduced its position in ESCO Technologies Inc. (NYSE:ESE) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,411 shares of the scientific and technical instruments company’s stock after selling 151 shares during the quarter. Pitcairn Co.’s holdings in ESCO Technologies were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESE. Select Equity Group L.P. grew its stake in shares of ESCO Technologies by 277.5% in the 2nd quarter. Select Equity Group L.P. now owns 395,460 shares of the scientific and technical instruments company’s stock valued at $41,539,000 after buying an additional 290,711 shares in the last quarter. Federated Hermes Inc. bought a new stake in ESCO Technologies in the second quarter worth approximately $15,632,000. F M Investments LLC acquired a new position in shares of ESCO Technologies during the 2nd quarter worth $9,455,000. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of ESCO Technologies by 35.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 185,850 shares of the scientific and technical instruments company’s stock valued at $19,522,000 after purchasing an additional 48,693 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of ESCO Technologies by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock valued at $29,754,000 after purchasing an additional 43,907 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESE has been the topic of several analyst reports. Stephens increased their target price on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of ESCO Technologies in a research note on Friday, November 15th. Finally, StockNews.com cut ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday.

ESCO Technologies Stock Down 1.7 %

ESE stock opened at $148.82 on Wednesday. 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 company has a 50-day moving average of $132.11 and a two-hundred day moving average of $119.57. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 37.77 and a beta of 1.08. ESCO Technologies Inc. has a 52-week low of $96.69 and a 52-week high of $154.00.

ESCO Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.22%. ESCO Technologies’s dividend payout ratio (DPR) is presently 8.12%.

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.