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

ESCO Technologies Inc. (NYSE:ESE) shares hit a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $154.00 and last traded at $150.00, with a volume of 35644 shares. The stock had previously closed at $140.00.

The newly announced dividend which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, January 2nd. ESCO Technologies’s payout ratio is 8.12%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stephens boosted their price target on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of ESCO Technologies in a report on Friday.

ESCO Technologies Stock Performance

The stock has a fifty day moving average of $127.95 and a 200-day moving average of $117.37. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.72 billion, a PE ratio of 36.62 and a beta of 1.08.

Hedge Funds Weigh In On ESCO Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ESE. Vanguard Group Inc. raised its holdings in ESCO Technologies by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,895,420 shares of the scientific and technical instruments company’s stock valued at $309,955,000 after acquiring an additional 15,801 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of ESCO Technologies by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,372,850 shares of the scientific and technical instruments company’s stock valued at $144,204,000 after purchasing an additional 16,152 shares in the last quarter. Champlain Investment Partners LLC lifted its position in shares of ESCO Technologies by 6.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock worth $130,077,000 after purchasing an additional 69,500 shares during the last quarter. State Street Corp grew its stake in shares of ESCO Technologies by 4.9% during the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock worth $135,950,000 after purchasing an additional 49,577 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in ESCO Technologies by 1.8% in the third quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company’s stock valued at $135,138,000 after buying an additional 18,676 shares during the last quarter. 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.