ESCO Technologies (NYSE:ESE) Hits New 52-Week High After Dividend Announcement

ESCO Technologies Inc. (NYSE:ESE) shares hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $200.45 and last traded at $199.31, with a volume of 140719 shares traded. The stock had previously closed at $194.20.

The newly announced dividend which will be paid on Thursday, October 16th. Investors of record on Thursday, October 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 2nd. ESCO Technologies’s dividend payout ratio (DPR) is presently 7.21%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Benchmark increased their price target on ESCO Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Wall Street Zen downgraded ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Saturday.

ESCO Technologies Stock Up 2.6%

The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $5.15 billion, a PE ratio of 44.89 and a beta of 1.23. The stock has a 50-day moving average of $190.00 and a 200 day moving average of $170.35.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings results on Thursday, August 7th. The scientific and technical instruments company reported $1.60 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.05). The company had revenue of $296.34 million during the quarter, compared to the consensus estimate of $320.23 million. ESCO Technologies had a return on equity of 11.19% and a net margin of 10.37%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $1.16 EPS. Sell-side analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current year.

Institutional Investors Weigh In On ESCO Technologies

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in ESCO Technologies by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 2,973,925 shares of the scientific and technical instruments company’s stock valued at $473,211,000 after acquiring an additional 66,392 shares during the period. Geneva Capital Management LLC raised its holdings in ESCO Technologies by 5.9% during the 2nd quarter. Geneva Capital Management LLC now owns 882,959 shares of the scientific and technical instruments company’s stock valued at $169,413,000 after acquiring an additional 49,173 shares during the period. Nuveen LLC bought a new stake in ESCO Technologies during the 1st quarter valued at $90,067,000. Wellington Management Group LLP raised its holdings in ESCO Technologies by 152.6% during the 4th 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 acquiring an additional 229,601 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in ESCO Technologies by 3.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 315,479 shares of the scientific and technical instruments company’s stock valued at $50,199,000 after acquiring an additional 9,402 shares during the period. Institutional investors own 95.70% of the company’s stock.

ESCO Technologies Company Profile

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.