Principal Financial Group Inc. Lowers Stake in ESCO Technologies Inc. (NYSE:ESE)

Principal Financial Group Inc. cut its position in ESCO Technologies Inc. (NYSE:ESE) by 9.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 121,704 shares of the scientific and technical instruments company’s stock after selling 12,557 shares during the quarter. Principal Financial Group Inc.’s holdings in ESCO Technologies were worth $15,697,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Moody National Bank Trust Division boosted its position in shares of ESCO Technologies by 4.4% in the second quarter. Moody National Bank Trust Division now owns 2,827 shares of the scientific and technical instruments company’s stock worth $297,000 after purchasing an additional 120 shares during the period. Arizona State Retirement System lifted its position in shares of ESCO Technologies by 1.8% during the second quarter. Arizona State Retirement System now owns 7,222 shares of the scientific and technical instruments company’s stock valued at $759,000 after buying an additional 130 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ESCO Technologies by 43.0% in the 3rd quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company’s stock valued at $60,000 after purchasing an additional 141 shares during the last quarter. Signaturefd LLC raised its position in ESCO Technologies by 17.9% during the 3rd quarter. Signaturefd LLC now owns 990 shares of the scientific and technical instruments company’s stock worth $128,000 after buying an additional 150 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in ESCO Technologies by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the scientific and technical instruments company’s stock worth $1,366,000 after buying an additional 200 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ESE. Stephens lifted their price target on shares of ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of ESCO Technologies in a research report on Friday.

ESCO Technologies Stock Performance

Shares of ESE opened at $144.16 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. ESCO Technologies Inc. has a 52-week low of $96.69 and a 52-week high of $154.00. The stock has a 50 day moving average price of $127.36 and a 200 day moving average price of $117.09. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 37.38 and a beta of 1.08.

ESCO Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. ESCO Technologies’s payout ratio is currently 8.29%.

ESCO Technologies Profile

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.