Principal Financial Group Inc. Sells 12,557 Shares of ESCO Technologies Inc. (NYSE:ESE)

Principal Financial Group Inc. reduced its stake in ESCO Technologies Inc. (NYSE:ESE) by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. raised its stake in shares of ESCO Technologies by 20.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 411 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 71 shares in the last quarter. GAMMA Investing LLC increased its holdings in ESCO Technologies by 43.0% during the third quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company’s stock worth $60,000 after buying an additional 141 shares during the last quarter. Signaturefd LLC raised its position in ESCO Technologies by 17.9% during the third quarter. Signaturefd LLC now owns 990 shares of the scientific and technical instruments company’s stock worth $128,000 after acquiring an additional 150 shares in the last quarter. Intech Investment Management LLC acquired a new stake in ESCO Technologies in the second quarter valued at $205,000. Finally, Stonegate Investment Group LLC bought a new position in shares of ESCO Technologies in the 3rd quarter valued at about $207,000. 95.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ESE. StockNews.com raised shares of ESCO Technologies from a “hold” rating to a “buy” rating in a report on Tuesday. Benchmark reissued a “buy” rating and set a $150.00 price target on shares of ESCO Technologies in a research report on Friday, November 15th. Finally, Stephens raised their price objective on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, September 27th.

ESCO Technologies Price Performance

NYSE:ESE opened at $134.55 on Friday. The company has a market cap of $3.47 billion, a P/E ratio of 34.15 and a beta of 1.11. The firm’s fifty day moving average price is $139.28 and its two-hundred day moving average price is $124.66. ESCO Technologies Inc. has a one year low of $96.69 and a one year high of $154.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.31.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a $0.08 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.32 annualized dividend and a yield of 0.24%. ESCO Technologies’s dividend payout ratio is currently 8.12%.

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.