ESCO Technologies (NYSE:ESE) Reaches New 52-Week High at $122.42

ESCO Technologies Inc. (NYSE:ESE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $122.42 and last traded at $121.67, with a volume of 13060 shares trading hands. The stock had previously closed at $120.48.

Wall Street Analysts Forecast Growth

Separately, Stephens reissued an “overweight” rating and set a $125.00 target price on shares of ESCO Technologies in a research note on Tuesday, July 9th.

ESCO Technologies Price Performance

The stock’s 50 day moving average is $108.97 and its two-hundred day moving average is $104.98. The stock has a market capitalization of $3.15 billion, a PE ratio of 32.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.15 and a quick ratio of 1.42.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings results on Thursday, May 9th. The scientific and technical instruments company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.83%. The company had revenue of $249.10 million during the quarter, compared to analysts’ expectations of $241.15 million. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that ESCO Technologies Inc. will post 4.22 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Wednesday, July 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Wednesday, July 3rd. ESCO Technologies’s dividend payout ratio (DPR) is 8.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC lifted its stake in ESCO Technologies by 21.2% during the second quarter. Tributary Capital Management LLC now owns 140,084 shares of the scientific and technical instruments company’s stock worth $14,714,000 after purchasing an additional 24,469 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in shares of ESCO Technologies by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the scientific and technical instruments company’s stock worth $1,366,000 after buying an additional 200 shares during the last quarter. First Horizon Advisors Inc. purchased a new stake in shares of ESCO Technologies during the 2nd quarter worth approximately $36,000. Blue Trust Inc. acquired a new position in shares of ESCO Technologies in the 2nd quarter valued at $391,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in ESCO Technologies during the 2nd quarter worth $248,000. 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.