ESCO Technologies Inc. (NYSE:ESE) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in ESCO Technologies Inc. (NYSE:ESE) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,517 shares of the scientific and technical instruments company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System’s holdings in ESCO Technologies were worth $1,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ESE. Select Equity Group L.P. increased its stake in shares of 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 during the last quarter. Federated Hermes Inc. acquired a new stake in shares of ESCO Technologies during the 2nd quarter worth about $15,632,000. F M Investments LLC acquired a new stake in shares of ESCO Technologies during the 2nd quarter worth about $9,455,000. Champlain Investment Partners LLC increased its position in shares of ESCO Technologies by 6.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock worth $130,077,000 after purchasing an additional 69,500 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of ESCO Technologies by 35.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 185,850 shares of the scientific and technical instruments company’s stock worth $19,522,000 after purchasing an additional 48,693 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ESE has been the subject of a number of recent analyst reports. Stephens raised their price objective on ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of ESCO Technologies in a research report on Tuesday, November 5th.

ESCO Technologies Stock Performance

Shares of ESCO Technologies stock opened at $141.96 on Friday. The business has a 50-day moving average of $125.20 and a 200 day moving average of $116.11. ESCO Technologies Inc. has a 12 month low of $96.69 and a 12 month high of $147.80. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 36.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.39.

ESCO Technologies (NYSE:ESE) last announced its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). ESCO Technologies had a net margin of 9.95% and a return on equity of 8.82%. The firm had revenue of $260.78 million for the quarter. As a group, sell-side analysts forecast that ESCO Technologies Inc. will post 4.15 earnings per share for the current year.

ESCO Technologies Company 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.