Allspring Global Investments Holdings LLC Increases Stake in ESCO Technologies Inc. (NYSE:ESE)

Allspring Global Investments Holdings LLC boosted its stake in ESCO Technologies Inc. (NYSE:ESE) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,516 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,830 shares during the period. Allspring Global Investments Holdings LLC owned about 0.31% of ESCO Technologies worth $9,306,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ESE. Operose Advisors LLC purchased a new position in ESCO Technologies in the 3rd quarter worth approximately $30,000. Point72 Middle East FZE purchased a new position in ESCO Technologies in the 4th quarter worth approximately $45,000. Altshuler Shaham Ltd purchased a new position in shares of ESCO Technologies during the fourth quarter valued at approximately $51,000. Lazard Asset Management LLC purchased a new position in shares of ESCO Technologies during the third quarter valued at approximately $56,000. Finally, State of Wyoming increased its stake in shares of ESCO Technologies by 25.6% during the second quarter. State of Wyoming now owns 917 shares of the scientific and technical instruments company’s stock valued at $95,000 after buying an additional 187 shares during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.

ESCO Technologies Price Performance

ESE opened at $98.79 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.31 and a current ratio of 1.98. ESCO Technologies Inc. has a 52-week low of $89.77 and a 52-week high of $118.60. The stock has a market capitalization of $2.55 billion, a PE ratio of 27.44 and a beta of 1.15. The stock’s 50 day moving average price is $102.12 and its 200-day moving average price is $104.04.

ESCO Technologies (NYSE:ESE) last issued its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.05). The firm had revenue of $218.30 million during the quarter, compared to analysts’ expectations of $221.44 million. ESCO Technologies had a return on equity of 8.59% and a net margin of 9.60%. ESCO Technologies’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. On average, equities research analysts predict that ESCO Technologies Inc. will post 4.2 EPS for the current year.

ESCO Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.08 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.32 annualized dividend and a yield of 0.32%. ESCO Technologies’s payout ratio is 8.89%.

Insider Buying and Selling

In related news, Director Leon J. Olivier sold 900 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $100.26, for a total value of $90,234.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on ESE. StockNews.com cut ESCO Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 17th. Sidoti cut ESCO Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, January 5th.

ESCO Technologies Company 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.