ESCO Technologies (NYSE:ESE) Sets New 1-Year High After 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.

Shares of ESCO Technologies Inc. (NYSE:ESE - Get Free Report) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as $200.45 and last traded at $199.31, with a volume of 140719 shares changing hands. 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. The ex-dividend date is Thursday, October 2nd. This represents a $0.32 annualized dividend and a yield of 0.2%. ESCO Technologies's dividend payout ratio (DPR) is currently 7.21%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of ESCO Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Benchmark raised 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 Down 2.0%

The firm's 50 day moving average price is $190.43 and its two-hundred day moving average price is $171.83. The company has a market cap of $4.76 billion, a P/E ratio of 41.55 and a beta of 1.23. 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 released its quarterly earnings data on Thursday, August 7th. The scientific and technical instruments company reported $1.60 earnings per share for the quarter, missing the consensus estimate 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 net margin of 10.37% and a return on equity of 11.19%. The business's revenue was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts anticipate that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

Institutional Trading of ESCO Technologies

Several hedge funds have recently modified their holdings of ESE. Public Sector Pension Investment Board increased its stake in ESCO Technologies by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 87,990 shares of the scientific and technical instruments company's stock valued at $16,883,000 after purchasing an additional 6,140 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in ESCO Technologies by 318.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,788 shares of the scientific and technical instruments company's stock valued at $535,000 after purchasing an additional 2,122 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in ESCO Technologies by 8.8% during the 2nd quarter. State of Tennessee Department of Treasury now owns 14,717 shares of the scientific and technical instruments company's stock valued at $2,824,000 after purchasing an additional 1,186 shares in the last quarter. Tidal Investments LLC bought a new stake in ESCO Technologies during the 2nd quarter valued at $309,000. Finally, Smartleaf Asset Management LLC increased its stake in ESCO Technologies by 9.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 677 shares of the scientific and technical instruments company's stock valued at $132,000 after purchasing an additional 60 shares in the last quarter. 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.