Prudential Financial Inc. Reduces Stake in ESCO Technologies Inc. (NYSE:ESE)

Prudential Financial Inc. cut its holdings in shares of ESCO Technologies Inc. (NYSE:ESE) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,274 shares of the scientific and technical instruments company’s stock after selling 784 shares during the period. Prudential Financial Inc. owned 0.10% of ESCO Technologies worth $3,791,000 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 the business. Wellington Management Group LLP purchased a new position in ESCO Technologies during the 3rd quarter valued at $19,412,000. State Street Corp increased its position in shares of ESCO Technologies by 4.9% during the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock valued at $135,950,000 after buying an additional 49,577 shares during the period. Great Lakes Advisors LLC bought a new position in ESCO Technologies in the fourth quarter worth about $5,265,000. Barclays PLC lifted its holdings in ESCO Technologies by 340.9% in the third quarter. Barclays PLC now owns 44,413 shares of the scientific and technical instruments company’s stock worth $5,728,000 after buying an additional 34,340 shares during the period. Finally, Vanguard Group Inc. boosted its position in ESCO Technologies by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 2,907,533 shares of the scientific and technical instruments company’s stock valued at $387,312,000 after acquiring an additional 32,306 shares in the last quarter. Institutional investors own 95.70% of the company’s stock.

ESCO Technologies Price Performance

ESE stock opened at $158.52 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 2.04. The firm has a 50 day moving average price of $154.36 and a 200-day moving average price of $141.30. ESCO Technologies Inc. has a 52-week low of $97.11 and a 52-week high of $171.28. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 37.21 and a beta of 1.11.

ESCO Technologies (NYSE:ESE) last released its earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. Equities research analysts forecast that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.32 annualized dividend and a yield of 0.20%. ESCO Technologies’s dividend payout ratio (DPR) is presently 7.51%.

Wall Street Analysts Forecast Growth

ESE has been the subject of several research reports. StockNews.com lowered ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Stephens reiterated an “overweight” rating and issued a $175.00 price objective on shares of ESCO Technologies in a report on Thursday, February 27th. Finally, Benchmark boosted their target price on shares of ESCO Technologies from $150.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, February 11th.

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.