Granite Investment Partners LLC cut its position in shares of ESCO Technologies Inc. (NYSE:ESE – Free Report) by 31.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,672 shares of the scientific and technical instruments company’s stock after selling 6,712 shares during the quarter. Granite Investment Partners LLC’s holdings in ESCO Technologies were worth $3,097,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in ESCO Technologies by 60.5% in the 1st quarter. AQR Capital Management LLC now owns 7,683 shares of the scientific and technical instruments company’s stock valued at $1,223,000 after purchasing an additional 2,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ESCO Technologies by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,399 shares of the scientific and technical instruments company’s stock valued at $2,450,000 after buying an additional 664 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in ESCO Technologies during the first quarter valued at approximately $228,000. United Services Automobile Association acquired a new stake in ESCO Technologies during the 1st quarter worth $261,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of ESCO Technologies by 19.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 82,500 shares of the scientific and technical instruments company’s stock valued at $13,127,000 after purchasing an additional 13,648 shares during the period. 95.70% of the stock is owned by institutional investors and hedge funds.
ESCO Technologies Price Performance
ESCO Technologies stock opened at $276.72 on Tuesday. The stock has a market cap of $7.17 billion, a P/E ratio of 23.55 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average price is $226.75 and its two-hundred day moving average price is $214.92. ESCO Technologies Inc. has a 52 week low of $134.78 and a 52 week high of $291.31.
ESCO Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Thursday, April 2nd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, April 2nd. ESCO Technologies’s dividend payout ratio is currently 2.72%.
Analyst Upgrades and Downgrades
ESE has been the topic of several analyst reports. Zacks Research raised shares of ESCO Technologies to a “hold” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered ESCO Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 15th. CJS Securities upgraded shares of ESCO Technologies to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings lowered shares of ESCO Technologies from a “buy (a-)” rating to a “buy (b)” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $187.50.
Check Out Our Latest Stock Analysis on ESE
Insider Buying and Selling
In other news, CEO Bryan H. Sayler sold 401 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $220.00, for a total transaction of $88,220.00. Following the completion of the transaction, the chief executive officer directly owned 20,254 shares of the company’s stock, valued at approximately $4,455,880. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vinod M. Khilnani sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $217.99, for a total value of $653,970.00. Following the completion of the sale, the director directly owned 20,468 shares of the company’s stock, valued at $4,461,819.32. The trade was a 12.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.
ESCO Technologies Company Profile
ESCO Technologies Inc is a diversified manufacturer of engineered products and systems designed to meet customers’ critical performance requirements in the test, measurement, control, and filtration of data, fluids, and gases. The company serves a wide range of end markets, including commercial aerospace, defense, industrial, medical, and communication network sectors. ESCO’s solutions are tailored to environments where reliability, precision and regulatory compliance are paramount.
Operating through multiple business segments, ESCO Technologies delivers test and measurement instruments such as RF and microwave components, signal distribution systems, and integrated test enclosures that support defense and aerospace programs.
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