ESCO Technologies Inc. (NYSE:ESE) Holdings Reduced by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of ESCO Technologies Inc. (NYSE:ESE) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,411 shares of the scientific and technical instruments company’s stock after selling 151 shares during the period. Pitcairn Co.’s holdings in ESCO Technologies were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Select Equity Group L.P. grew its position in 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. acquired a new position in shares of ESCO Technologies during the 2nd quarter valued at $15,632,000. F M Investments LLC acquired a new position in shares of ESCO Technologies during the 2nd quarter valued at $9,455,000. Fort Washington Investment Advisors Inc. OH raised its stake in shares of ESCO Technologies by 35.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 185,850 shares of the scientific and technical instruments company’s stock worth $19,522,000 after buying an additional 48,693 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ESCO Technologies by 18.3% in the second 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 buying an additional 43,907 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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 firm has a market capitalization of $3.83 billion, a P/E 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. The company’s 50 day simple moving average is $132.11 and its 200-day simple moving average is $119.57.

ESCO Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a $0.08 dividend. 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 payout ratio is currently 8.12%.

Analyst Ratings Changes

Several brokerages have commented on ESE. StockNews.com downgraded shares of ESCO Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Stephens increased their price objective on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of ESCO Technologies in a research note on Friday, November 15th.

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.