Legato Capital Management LLC Purchases Shares of 11,380 ESCO Technologies Inc. (NYSE:ESE)

Legato Capital Management LLC purchased a new stake in shares of ESCO Technologies Inc. (NYSE:ESE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,380 shares of the scientific and technical instruments company’s stock, valued at approximately $1,195,000.

Several other hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of ESCO Technologies by 16.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 86,125 shares of the scientific and technical instruments company’s stock worth $9,047,000 after buying an additional 12,165 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ESCO Technologies by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock valued at $29,754,000 after purchasing an additional 43,907 shares in the last quarter. Tributary Capital Management LLC raised its stake in ESCO Technologies by 21.2% in the second quarter. Tributary Capital Management LLC now owns 140,084 shares of the scientific and technical instruments company’s stock valued at $14,714,000 after purchasing an additional 24,469 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in ESCO Technologies by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the scientific and technical instruments company’s stock valued at $1,366,000 after purchasing an additional 200 shares in the last quarter. Finally, First Horizon Advisors Inc. acquired a new position in ESCO Technologies in the second quarter valued at about $36,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an “overweight” rating and issued a $125.00 price target on shares of ESCO Technologies in a research note on Tuesday, July 9th.

ESCO Technologies Trading Down 0.7 %

Shares of NYSE:ESE traded down $0.88 during midday trading on Tuesday, hitting $118.46. 17,721 shares of the stock were exchanged, compared to its average volume of 131,332. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 31.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.42 and a current ratio of 2.15. The business’s 50-day moving average price is $113.82 and its 200 day moving average price is $107.52. ESCO Technologies Inc. has a 12 month low of $94.59 and a 12 month high of $125.54.

ESCO Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Wednesday, October 2nd. ESCO Technologies’s dividend payout ratio (DPR) is currently 8.40%.

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.