Zurcher Kantonalbank Zurich Cantonalbank Grows Position in ESCO Technologies Inc. (NYSE:ESE)

29 May 2020, 12:18 by Danessa Lincoln

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ESCO Technologies Inc. (NYSE:ESE) by 29.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,932 shares of the scientific and technical instruments company’s stock after purchasing an additional 440 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ESCO Technologies were worth $147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Americana Partners LLC purchased a new position in ESCO Technologies during the 4th quarter valued at approximately $41,000. Whittier Trust Co. grew its holdings in ESCO Technologies by 33.5% during the 4th quarter. Whittier Trust Co. now owns 534 shares of the scientific and technical instruments company’s stock valued at $49,000 after buying an additional 134 shares in the last quarter. Huntington National Bank grew its holdings in ESCO Technologies by 60,000.0% during the 1st quarter. Huntington National Bank now owns 601 shares of the scientific and technical instruments company’s stock valued at $46,000 after buying an additional 600 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in ESCO Technologies by 1,293.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 836 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 776 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in ESCO Technologies by 2,725.4% during the 4th quarter. Point72 Hong Kong Ltd now owns 1,780 shares of the scientific and technical instruments company’s stock valued at $165,000 after buying an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 93.56% of the company’s stock.

Shares of ESE stock opened at $83.15 on Friday. ESCO Technologies Inc. has a 52-week low of $62.64 and a 52-week high of $107.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.48 and a current ratio of 2.04. The firm has a market capitalization of $2.29 billion, a P/E ratio of 14.54 and a beta of 0.98. The stock has a 50 day moving average price of $76.71 and a 200 day moving average price of $86.33.

ESCO Technologies (NYSE:ESE) last issued its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.11. ESCO Technologies had a return on equity of 9.05% and a net margin of 18.96%. The firm had revenue of $180.49 million during the quarter, compared to analyst estimates of $180.52 million. During the same period last year, the company earned $0.71 EPS. ESCO Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ESCO Technologies Inc. will post 2.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Thursday, July 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, July 1st. ESCO Technologies’s dividend payout ratio is currently 10.22%.

Several equities research analysts have recently issued reports on the company. TheStreet raised ESCO Technologies from a “c+” rating to a “b-” rating in a research note on Friday, May 8th. ValuEngine raised ESCO Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Zacks Investment Research lowered ESCO Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, May 21st. Finally, Sidoti assumed coverage on ESCO Technologies in a research note on Monday, March 30th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $89.00.

ESCO Technologies Profile

ESCO Technologies Inc produces and supplies engineered products and systems for utility, industrial, aerospace, and commercial users worldwide. The company operates in four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG), and Technical Packaging.