ESCO Technologies (NYSE:ESE) Downgraded by StockNews.com to Hold

ESCO Technologies (NYSE:ESE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also commented on the company. Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of ESCO Technologies in a research note on Friday, November 15th. Stephens upped their price objective 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.

ESCO Technologies Trading Down 0.5 %

Shares of ESE opened at $148.09 on Tuesday. ESCO Technologies has a fifty-two week low of $96.69 and a fifty-two week high of $154.00. The company has a market capitalization of $3.81 billion, a PE ratio of 37.59 and a beta of 1.08. The stock has a fifty day moving average of $132.61 and a two-hundred day moving average of $119.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. increased its stake in ESCO Technologies by 277.5% during the second 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 during the last quarter. Wellington Management Group LLP purchased a new stake in shares of ESCO Technologies during the 3rd quarter worth about $19,412,000. Federated Hermes Inc. acquired a new stake in ESCO Technologies during the 2nd quarter worth approximately $15,632,000. F M Investments LLC purchased a new position in ESCO Technologies in the second quarter valued at approximately $9,455,000. Finally, State Street Corp lifted its position in ESCO Technologies by 4.9% during the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock valued at $135,950,000 after buying an additional 49,577 shares in the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

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.