ESCO Technologies (NYSE:ESE) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of ESCO Technologies (NYSE:ESE) from a buy rating to a hold rating in a research note published on Friday.

ESE has been the topic of several other reports. Benchmark increased their price objective on shares of ESCO Technologies from $150.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Stephens reissued an “overweight” rating and issued a $175.00 price target on shares of ESCO Technologies in a report on Thursday, February 27th.

ESCO Technologies Trading Down 1.6 %

Shares of NYSE:ESE opened at $158.92 on Friday. The company has a 50-day simple moving average of $150.54 and a 200 day simple moving average of $138.78. The company has a market capitalization of $4.10 billion, a P/E ratio of 37.31 and a beta of 1.11. 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 has a 52-week low of $97.11 and a 52-week high of $171.28.

ESCO Technologies (NYSE:ESE) last issued its earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 EPS for the quarter, topping 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%. Sell-side analysts forecast that ESCO Technologies will post 5.65 earnings per share for the current year.

ESCO Technologies Dividend Announcement

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

Hedge Funds Weigh In On ESCO Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. bought a new stake in ESCO Technologies in the 4th quarter valued at about $30,000. Jones Financial Companies Lllp raised its position in shares of ESCO Technologies by 747.1% in the fourth quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company’s stock valued at $38,000 after buying an additional 254 shares in the last quarter. Huntington National Bank boosted its stake in shares of ESCO Technologies by 150.0% in the fourth quarter. Huntington National Bank now owns 305 shares of the scientific and technical instruments company’s stock valued at $41,000 after buying an additional 183 shares during the period. First Horizon Advisors Inc. grew its position 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 buying an additional 71 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in ESCO Technologies by 627.1% during the 4th quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 370 shares during the period. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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.