ESCO Technologies (NYSE:ESE) Hits New 12-Month High – Here’s Why

ESCO Technologies Inc. (NYSE:ESE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $185.83 and last traded at $185.51, with a volume of 168095 shares. The stock had previously closed at $179.57.

Analysts Set New Price Targets

Several research firms recently commented on ESE. Benchmark boosted their target price on ESCO Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Stephens restated an “overweight” rating and set a $175.00 target price on shares of ESCO Technologies in a research report on Thursday, February 27th. Finally, StockNews.com cut ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 21st.

ESCO Technologies Price Performance

The business has a fifty day moving average price of $157.02 and a 200-day moving average price of $147.65. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.79 billion, a PE ratio of 43.55 and a beta of 1.19.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.10. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. The firm had revenue of $265.52 million during the quarter, compared to analysts’ expectations of $264.96 million. During the same period in the prior year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts expect that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, July 2nd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Wednesday, July 2nd. ESCO Technologies’s dividend payout ratio (DPR) is presently 7.02%.

Institutional Investors Weigh In On ESCO Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new position in ESCO Technologies during the 1st quarter valued at approximately $90,067,000. Wellington Management Group LLP raised its position in ESCO Technologies by 152.6% during the 4th quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company’s stock valued at $50,634,000 after purchasing an additional 229,601 shares during the last quarter. GAMMA Investing LLC raised its position in ESCO Technologies by 18,682.3% during the 1st quarter. GAMMA Investing LLC now owns 107,247 shares of the scientific and technical instruments company’s stock valued at $17,065,000 after purchasing an additional 106,676 shares during the last quarter. Norges Bank bought a new position in ESCO Technologies during the 4th quarter valued at approximately $13,066,000. Finally, Rockefeller Capital Management L.P. bought a new position in ESCO Technologies during the 4th quarter valued at approximately $11,435,000. Institutional investors 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.