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

Shares of ESCO Technologies Inc. (NYSE:ESE) hit a new 52-week high on Wednesday . The company traded as high as $167.76 and last traded at $168.05, with a volume of 40398 shares. The stock had previously closed at $163.27.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ESE shares. Benchmark lifted their target price on shares of ESCO Technologies from $150.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com raised shares of ESCO Technologies from a “hold” rating to a “buy” rating in a report on Monday, January 20th.

ESCO Technologies Stock Up 2.4 %

The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 39.23 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.35. The business has a fifty day moving average price of $138.13 and a two-hundred day moving average price of $131.74.

ESCO Technologies (NYSE:ESE) last issued its quarterly earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.34. ESCO Technologies had a net margin of 10.44% and a return on equity of 9.91%. On average, equities analysts expect that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

ESCO Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be issued a $0.08 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. ESCO Technologies’s payout ratio is 7.51%.

Institutional Investors Weigh In On ESCO Technologies

Several hedge funds have recently modified their holdings of ESE. Vanguard Group Inc. raised its holdings in ESCO Technologies by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 2,907,533 shares of the scientific and technical instruments company’s stock worth $387,312,000 after purchasing an additional 32,306 shares during the period. State Street Corp increased its position in shares of ESCO Technologies by 4.9% in the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock valued at $135,950,000 after buying an additional 49,577 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of ESCO Technologies by 1.8% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company’s stock worth $135,138,000 after buying an additional 18,676 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of ESCO Technologies by 3.3% during the third quarter. Loomis Sayles & Co. L P now owns 438,536 shares of the scientific and technical instruments company’s stock worth $56,563,000 after buying an additional 13,894 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of ESCO Technologies by 152.6% in the fourth 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 buying an additional 229,601 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.