ESCO Technologies (NYSE:ESE) Reaches New 1-Year High Following Strong Earnings

ESCO Technologies Inc. (NYSE:ESE) hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $179.42 and last traded at $173.36, with a volume of 42033 shares. The stock had previously closed at $163.53.

The scientific and technical instruments company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.10. The company had revenue of $265.52 million for the quarter, compared to analyst estimates of $264.96 million. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 EPS.

ESCO Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Wednesday, July 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend is Wednesday, July 2nd. ESCO Technologies’s payout ratio is presently 7.51%.

Analyst Upgrades and Downgrades

ESE has been the topic of several recent research reports. Benchmark raised their target price on ESCO Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a report on Friday. StockNews.com downgraded ESCO Technologies from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Stephens reaffirmed an “overweight” rating and set a $175.00 target price on shares of ESCO Technologies in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ESE. Opal Wealth Advisors LLC bought a new position in shares of ESCO Technologies in the first quarter worth about $35,000. Mather Group LLC. bought a new position in ESCO Technologies in the 4th quarter worth approximately $30,000. CX Institutional acquired a new position in shares of ESCO Technologies during the first quarter worth approximately $36,000. TD Private Client Wealth LLC bought a new stake in shares of ESCO Technologies in the first quarter valued at approximately $38,000. Finally, Jones Financial Companies Lllp grew its stake in shares of ESCO Technologies by 747.1% in the fourth quarter. Jones Financial Companies Lllp now owns 288 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

ESCO Technologies Price Performance

The firm has a market cap of $4.52 billion, a P/E ratio of 41.10 and a beta of 1.19. The stock’s 50-day moving average is $156.71 and its 200-day moving average is $147.04. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

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.