Louisiana State Employees Retirement System Has $1.40 Million Stock Holdings in ESCO Technologies Inc. (NYSE:ESE)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System grew its holdings in ESCO Technologies Inc. (NYSE:ESE – Free Report) by 12.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,500 shares of the scientific and technical instruments company’s stock after buying an additional 1,500 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of ESCO Technologies worth $1,399,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ESE. Norges Bank acquired a new position in shares of ESCO Technologies in the 4th quarter valued at $21,093,000. Vanguard Group Inc. increased its position in shares of ESCO Technologies by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 2,807,384 shares of the scientific and technical instruments company’s stock worth $196,292,000 after purchasing an additional 122,558 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ESCO Technologies by 3.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,747,370 shares of the scientific and technical instruments company’s stock worth $187,838,000 after purchasing an additional 91,085 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of ESCO Technologies by 24.6% during the 1st quarter. Victory Capital Management Inc. now owns 266,865 shares of the scientific and technical instruments company’s stock worth $25,472,000 after purchasing an additional 52,638 shares in the last quarter. Finally, State Street Corp increased its position in shares of ESCO Technologies by 4.9% during the 2nd quarter. State Street Corp now owns 988,280 shares of the scientific and technical instruments company’s stock worth $67,569,000 after purchasing an additional 45,985 shares in the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.

ESCO Technologies Trading Up 0.7 %

ESE opened at $104.84 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.30 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.70 billion, a PE ratio of 29.67 and a beta of 1.11. ESCO Technologies Inc. has a 1-year low of $73.37 and a 1-year high of $109.57. The firm has a 50-day moving average price of $103.76 and a two-hundred day moving average price of $98.79.

ESCO Technologies (NYSE:ESE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The scientific and technical instruments company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. The firm had revenue of $248.75 million during the quarter, compared to analysts’ expectations of $238.73 million. ESCO Technologies had a net margin of 9.74% and a return on equity of 8.83%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. As a group, equities analysts anticipate that ESCO Technologies Inc. will post 3.67 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Tuesday, October 3rd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, October 2nd. ESCO Technologies’s payout ratio is currently 9.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Stephens restated an “overweight” rating and issued a $120.00 price objective on shares of ESCO Technologies in a research report on Monday, August 28th.

View Our Latest Research Report on ESCO Technologies

ESCO Technologies Profile

(Free Report)

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.