ESCO Technologies Inc. (NYSE:ESE) Sees Large Growth in Short Interest

ESCO Technologies Inc. (NYSE:ESE) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 296,500 shares, an increase of 6.2% from the September 30th total of 279,100 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 102,900 shares, the short-interest ratio is presently 2.9 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ESE. Benchmark assumed coverage on ESCO Technologies in a research note on Monday, October 21st. They set a “buy” rating and a $150.00 price target for the company. Stephens lifted their price target on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th.

ESCO Technologies Price Performance

Shares of NYSE ESE traded up $2.45 during midday trading on Friday, reaching $127.99. The stock had a trading volume of 94,663 shares, compared to its average volume of 124,157. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.39 and a current ratio of 2.10. ESCO Technologies has a 12-month low of $96.69 and a 12-month high of $131.26. The stock has a 50-day moving average of $123.21 and a 200-day moving average of $114.53. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 32.53 and a beta of 1.08.

ESCO Technologies (NYSE:ESE) last released its quarterly earnings data on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. The business had revenue of $260.78 million during the quarter. As a group, research analysts anticipate that ESCO Technologies will post 4.15 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. The ex-dividend date was Wednesday, October 2nd. ESCO Technologies’s payout ratio is currently 8.29%.

Hedge Funds Weigh In On ESCO Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. bought a new stake in ESCO Technologies in the 2nd quarter worth approximately $36,000. GAMMA Investing LLC increased its position in ESCO Technologies by 43.0% in the third quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company’s stock worth $60,000 after purchasing an additional 141 shares during the last quarter. Innealta Capital LLC purchased a new stake in ESCO Technologies during the second quarter valued at $50,000. Signaturefd LLC lifted 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 valued at $128,000 after purchasing an additional 150 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of ESCO Technologies in the 1st quarter worth $126,000. Institutional investors own 95.70% of the company’s stock.

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.