ESCO Technologies (NYSE:ESE) Reaches New 52-Week High – Here’s What Happened

ESCO Technologies Inc. (NYSE:ESE) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $167.76 and last traded at $168.05, with a volume of 40398 shares changing hands. The stock had previously closed at $163.27.

Wall Street Analysts Forecast Growth

ESE has been the topic of several recent research reports. StockNews.com raised ESCO Technologies from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Benchmark lifted their price target on ESCO Technologies from $150.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

ESCO Technologies Price Performance

The company has a market cap of $4.18 billion, a P/E ratio of 38.04 and a beta of 1.13. The company has a fifty day moving average price of $139.54 and a two-hundred day moving average price of $132.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 2.04.

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

ESCO Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, April 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Wednesday, April 2nd. ESCO Technologies’s payout ratio is 7.51%.

Hedge Funds Weigh In On ESCO Technologies

Several hedge funds have recently modified their holdings of ESE. Mather Group LLC. bought a new position in ESCO Technologies during the fourth quarter worth about $30,000. Jones Financial Companies Lllp grew its holdings in ESCO Technologies by 747.1% during the fourth quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 254 shares during the period. Huntington National Bank grew its holdings in ESCO Technologies by 150.0% during the fourth quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 183 shares during the period. First Horizon Advisors Inc. grew its holdings in ESCO Technologies by 20.9% during the third quarter. First Horizon Advisors Inc. now owns 411 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 71 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in ESCO Technologies by 627.1% during the fourth quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 370 shares during the period. 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.