ESCO Technologies (NYSE:ESE) Sets New 12-Month High – Here’s Why

ESCO Technologies Inc. (NYSE:ESE)’s stock price hit a new 52-week high on Saturday . The stock traded as high as $162.74 and last traded at $158.73, with a volume of 331908 shares trading hands. The stock had previously closed at $132.42.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a report on Monday, January 20th. Benchmark reiterated a “buy” rating and set a $150.00 target price on shares of ESCO Technologies in a research note on Friday, November 15th.

ESCO Technologies Stock Performance

The stock has a market cap of $4.09 billion, a PE ratio of 40.29 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.31. The firm has a 50 day moving average of $135.81 and a two-hundred day moving average of $129.61.

ESCO Technologies (NYSE:ESE) last issued its earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.34. ESCO Technologies had a net margin of 9.92% and a return on equity of 9.09%. Research analysts predict that ESCO Technologies Inc. will post 4.8 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Wednesday, April 2nd. ESCO Technologies’s payout ratio is currently 8.12%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in ESCO Technologies by 215.4% in the fourth quarter. HighTower Advisors LLC now owns 7,813 shares of the scientific and technical instruments company’s stock valued at $1,041,000 after buying an additional 5,336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ESCO Technologies by 27.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,775 shares of the scientific and technical instruments company’s stock valued at $902,000 after purchasing an additional 1,464 shares during the last quarter. AlphaQuest LLC boosted its stake in ESCO Technologies by 102,833.3% during the 4th quarter. AlphaQuest LLC now owns 3,088 shares of the scientific and technical instruments company’s stock worth $411,000 after purchasing an additional 3,085 shares during the period. Edgestream Partners L.P. purchased a new position in ESCO Technologies during the 4th quarter worth $1,170,000. Finally, Atria Investments Inc acquired a new position in ESCO Technologies in the fourth quarter valued at $267,000. Hedge funds and other 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.