Commerce Bank Reduces Position in ESCO Technologies Inc. (NYSE:ESE)

Commerce Bank reduced its position in ESCO Technologies Inc. (NYSE:ESE) by 59.6% during the third quarter, HoldingsChannel.com reports. The firm owned 20,310 shares of the scientific and technical instruments company’s stock after selling 30,000 shares during the period. Commerce Bank’s holdings in ESCO Technologies were worth $2,620,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ESCO Technologies by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,895,420 shares of the scientific and technical instruments company’s stock valued at $309,955,000 after purchasing an additional 15,801 shares during the period. Dimensional Fund Advisors LP boosted its position in ESCO Technologies by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,372,850 shares of the scientific and technical instruments company’s stock valued at $144,204,000 after buying an additional 16,152 shares during the period. Conestoga Capital Advisors LLC boosted its position in ESCO Technologies by 1.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company’s stock valued at $135,138,000 after buying an additional 18,676 shares during the period. Select Equity Group L.P. grew its stake 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 worth $41,539,000 after acquiring an additional 290,711 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ESCO Technologies by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock worth $29,754,000 after acquiring an additional 43,907 shares during the period. Institutional investors own 95.70% of the company’s stock.

ESCO Technologies Price Performance

NYSE ESE opened at $148.94 on Friday. The company has a market cap of $3.84 billion, a PE ratio of 37.77 and a beta of 1.08. The firm’s 50 day moving average price is $130.97 and its 200-day moving average price is $118.85. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91. ESCO Technologies Inc. has a 52-week low of $96.69 and a 52-week high of $154.00.

ESCO Technologies Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.21%. ESCO Technologies’s dividend payout ratio (DPR) is presently 8.12%.

Analyst Upgrades and Downgrades

ESE has been the topic of several research analyst reports. StockNews.com raised ESCO Technologies from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Stephens increased their price target on ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of ESCO Technologies in a report on Friday, November 15th.

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.