ESCO Technologies (NYSE:ESE) Reaches New 1-Year High – Here’s Why

Shares of ESCO Technologies Inc. (NYSE:ESE) hit a new 52-week high on Tuesday . The stock traded as high as $131.30 and last traded at $131.30, with a volume of 24088 shares traded. The stock had previously closed at $128.21.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ESE. Benchmark reiterated a “buy” rating and issued a $150.00 target price on shares of ESCO Technologies in a research report on Tuesday. Stephens upped their price objective on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th.

ESCO Technologies Trading Up 1.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.39. The firm has a fifty day simple moving average of $123.56 and a 200-day simple moving average of $115.17. The firm has a market cap of $3.36 billion, a P/E ratio of 33.80 and a beta of 1.08.

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

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 2nd were paid a $0.08 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. ESCO Technologies’s payout ratio is presently 8.29%.

Institutional Investors Weigh In On ESCO Technologies

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new position in ESCO Technologies in the 2nd quarter worth about $36,000. Innealta Capital LLC bought a new position in shares of ESCO Technologies in the second quarter worth approximately $50,000. GAMMA Investing LLC raised its stake 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 valued at $60,000 after purchasing an additional 141 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in ESCO Technologies in the 1st quarter worth approximately $126,000. Finally, Signaturefd LLC increased its holdings in shares of ESCO Technologies by 17.9% in the 3rd quarter. Signaturefd LLC now owns 990 shares of the scientific and technical instruments company’s stock worth $128,000 after buying an additional 150 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

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.