ESCO Technologies Inc. to Issue Quarterly Dividend of $0.08 (NYSE:ESE)

ESCO Technologies Inc. (NYSE:ESE) declared a quarterly dividend on Thursday, November 16th, Zacks reports. Stockholders of record on Thursday, January 4th will be paid a dividend of 0.08 per share by the scientific and technical instruments company on Friday, January 19th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Wednesday, January 3rd.

ESCO Technologies has decreased its dividend payment by an average of 7.2% per year over the last three years. ESCO Technologies has a payout ratio of 7.6% meaning its dividend is sufficiently covered by earnings. Analysts expect ESCO Technologies to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.8%.

ESCO Technologies Stock Up 1.4 %

Shares of ESE opened at $104.97 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.30 and a current ratio of 1.92. ESCO Technologies has a one year low of $85.01 and a one year high of $109.57. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 29.74 and a beta of 1.10. The stock has a 50 day moving average price of $102.49 and a 200 day moving average price of $100.60.

ESCO Technologies (NYSE:ESE) last issued its earnings results on Thursday, November 16th. The scientific and technical instruments company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The company had revenue of $272.65 million during the quarter, compared to analysts’ expectations of $267.32 million. ESCO Technologies had a return on equity of 8.83% and a net margin of 9.74%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.21 EPS. Equities research analysts forecast that ESCO Technologies will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ESE has been the topic of several research reports. StockNews.com initiated coverage on ESCO Technologies in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Stephens reissued an “overweight” rating and set a $120.00 target price on shares of ESCO Technologies in a research note on Monday, August 28th.

Institutional Investors Weigh In On ESCO Technologies

Hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC raised its position in ESCO Technologies by 15.9% in the 3rd quarter. Pathstone Family Office LLC now owns 3,673 shares of the scientific and technical instruments company’s stock valued at $269,000 after purchasing an additional 503 shares in the last quarter. LPL Financial LLC raised its position in ESCO Technologies by 7.1% in the 3rd quarter. LPL Financial LLC now owns 2,564 shares of the scientific and technical instruments company’s stock valued at $268,000 after purchasing an additional 171 shares in the last quarter. AQR Capital Management LLC acquired a new stake in ESCO Technologies in the 3rd quarter valued at about $256,000. Baird Financial Group Inc. raised its position in ESCO Technologies by 6.2% in the 4th quarter. Baird Financial Group Inc. now owns 2,911 shares of the scientific and technical instruments company’s stock valued at $255,000 after purchasing an additional 170 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of ESCO Technologies in the 4th quarter valued at about $242,000. Institutional investors and hedge funds own 93.45% 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 Aerospace & Defense, Utility Solutions Group, and RF Shielding and Test segments. 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.