ESCO Technologies (NYSE:ESE) Reaches New 52-Week High Following Dividend Announcement

Key Points

• ESCO Technologies reached a new 52-week high of $200.45 following a dividend announcement, with the stock last trading at $199.31.
• The company announced a dividend of $0.08 per share, with an annualized yield of 0.2% and an upcoming payment date of October 16th.
• Despite the positive stock performance, analysts have varied opinions, with one downgrade to a "hold" rating and another firm raising the price target from $190.00 to $200.00.

ESCO Technologies Inc. (NYSE:ESE - Get Free Report) reached a new 52-week high 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 trading hands. The stock had previously closed at $194.20.The newly announced dividend which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 2nd. ESCO Technologies's payout ratio is 7.21%.

Analyst Ratings Changes

ESE has been the subject of several recent research reports. Wall Street Zen downgraded shares of ESCO Technologies from a "buy" rating to a "hold" rating in a research report on Saturday. Benchmark boosted their price target on shares of ESCO Technologies from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

ESCO Technologies Stock Up 2.6%

The company has a market cap of $5.15 billion, a PE ratio of 44.89 and a beta of 1.23. The stock's 50 day moving average price is $189.64 and its 200-day moving average price is $170.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 1.52.

ESCO Technologies (NYSE:ESE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The scientific and technical instruments company reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.05). The business had revenue of $296.34 million during the quarter, compared to analysts' expectations of $320.23 million. ESCO Technologies had a net margin of 10.37% and a return on equity of 11.19%. ESCO Technologies's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. On average, analysts predict that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

Institutional Investors Weigh In On ESCO Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in shares of ESCO Technologies by 1.3% in the 4th quarter. Alliancebernstein L.P. now owns 29,840 shares of the scientific and technical instruments company's stock worth $3,975,000 after purchasing an additional 384 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in ESCO Technologies by 4.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,047 shares of the scientific and technical instruments company's stock valued at $326,000 after acquiring an additional 93 shares during the period. New York State Teachers Retirement System lifted its position in ESCO Technologies by 0.9% during the 1st quarter. New York State Teachers Retirement System now owns 11,617 shares of the scientific and technical instruments company's stock valued at $1,848,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC lifted its position in ESCO Technologies by 18.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the scientific and technical instruments company's stock valued at $107,000 after acquiring an additional 103 shares during the period. Finally, CX Institutional purchased a new position in ESCO Technologies during the 1st quarter valued at about $36,000. 95.70% of the stock is owned by hedge funds and other institutional investors.

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.

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