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 on Wednesday . The stock traded as high as $185.83 and last traded at $185.51, with a volume of 168095 shares traded. The stock had previously closed at $179.57.

Analyst Ratings Changes

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

ESCO Technologies Trading Up 3.3%

The firm has a 50 day simple moving average of $157.02 and a 200 day simple moving average 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 firm 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 issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.25 by $0.10. The business had revenue of $265.52 million for the quarter, compared to the consensus estimate of $264.96 million. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. Equities analysts expect that ESCO Technologies Inc. will post 5.65 earnings per share for the current fiscal year.

ESCO Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.17%. ESCO Technologies’s payout ratio is 7.02%.

Hedge Funds Weigh In On ESCO Technologies

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in ESCO Technologies by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 2,973,925 shares of the scientific and technical instruments company’s stock worth $473,211,000 after purchasing an additional 66,392 shares during the period. Nuveen LLC purchased a new position in shares of ESCO Technologies during the first quarter valued at about $90,067,000. Wellington Management Group LLP grew its position in shares of ESCO Technologies by 152.6% during 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 purchasing an additional 229,601 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ESCO Technologies by 3.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 315,479 shares of the scientific and technical instruments company’s stock worth $50,199,000 after acquiring an additional 9,402 shares in the last quarter. Finally, Northern Trust Corp grew its position in ESCO Technologies by 7.0% in the fourth quarter. Northern Trust Corp now owns 297,264 shares of the scientific and technical instruments company’s stock worth $39,599,000 after acquiring an additional 19,465 shares in the last quarter. 95.70% of the stock is owned by institutional investors.

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.