State of New Jersey Common Pension Fund D Buys 6,596 Shares of ESCO Technologies Inc. (NYSE:ESE)

Posted by MarketBeat News on Aug 2nd, 2022

State of New Jersey Common Pension Fund D grew its stake in shares of ESCO Technologies Inc. (NYSE:ESE – Get Rating) by 22.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 36,462 shares of the scientific and technical instruments company’s stock after purchasing an additional 6,596 shares during the period. State of New Jersey Common Pension Fund D owned about 0.14% of ESCO Technologies worth $2,549,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESE. Allspring Global Investments Holdings LLC bought a new stake in ESCO Technologies during the 4th quarter worth approximately $712,000. Yousif Capital Management LLC bought a new stake in ESCO Technologies during the 4th quarter worth approximately $2,136,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ESCO Technologies by 52.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,920 shares of the scientific and technical instruments company’s stock worth $353,000 after buying an additional 1,346 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of ESCO Technologies by 54.3% in the 4th quarter. Fifth Third Bancorp now owns 446 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 157 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of ESCO Technologies in the 4th quarter worth approximately $263,000. 93.65% of the stock is owned by institutional investors.

ESCO Technologies Price Performance

Shares of NYSE ESE opened at $77.67 on Tuesday. ESCO Technologies Inc. has a twelve month low of $60.03 and a twelve month high of $96.01. The stock’s 50 day moving average price is $67.64 and its 200-day moving average price is $69.50. The company has a market capitalization of $2.01 billion, a PE ratio of 31.96 and a beta of 1.09. The company has a quick ratio of 1.22, a current ratio of 1.85 and a debt-to-equity ratio of 0.17.

ESCO Technologies (NYSE:ESE – Get Rating) last announced its earnings results on Monday, May 9th. The scientific and technical instruments company reported $0.65 earnings per share for the quarter. ESCO Technologies had a return on equity of 6.76% and a net margin of 8.24%. The firm had revenue of $204.90 million for the quarter, compared to the consensus estimate of $189.67 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that ESCO Technologies Inc. will post 3.2 EPS for the current year.

ESCO Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 19th. Stockholders of record on Tuesday, July 5th were paid a $0.08 dividend. The ex-dividend date was Friday, July 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.41%. ESCO Technologies’s payout ratio is presently 13.17%.

About ESCO Technologies

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ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through Aerospace & Defense, Utility Solutions Group, and RF Shielding and Test segments. 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.