ESCO Technologies (NYSE:ESE) Reaches New 12-Month High After Dividend Announcement

ESCO Technologies Inc. (NYSE:ESE)’s share price reached a new 52-week high during trading on Friday following a dividend announcement from the company. The company 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. Shareholders of record on Thursday, January 2nd will be paid a $0.08 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.32 annualized dividend and a yield of 0.22%. ESCO Technologies’s dividend payout ratio is currently 8.12%.

Wall Street Analyst Weigh In

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

ESCO Technologies Stock Performance

The company has a market cap of $3.72 billion, a PE ratio of 36.62 and a beta of 1.08. The stock has a 50 day simple moving average of $127.95 and a two-hundred day simple moving average of $117.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.39.

Institutional Trading of ESCO Technologies

A number of large investors have recently bought and sold shares of ESE. Barclays PLC raised its holdings in shares of ESCO Technologies by 340.9% in the third quarter. Barclays PLC now owns 44,413 shares of the scientific and technical instruments company’s stock valued at $5,728,000 after buying an additional 34,340 shares during the last quarter. First National Bank of Omaha increased its position in ESCO Technologies by 25.8% in the 3rd quarter. First National Bank of Omaha now owns 5,343 shares of the scientific and technical instruments company’s stock valued at $689,000 after acquiring an additional 1,095 shares during the period. Dean Investment Associates LLC raised its stake in ESCO Technologies by 25.1% during the 3rd quarter. Dean Investment Associates LLC now owns 38,569 shares of the scientific and technical instruments company’s stock valued at $4,975,000 after acquiring an additional 7,727 shares during the last quarter. Jane Street Group LLC lifted its position in ESCO Technologies by 31.9% during the 3rd quarter. Jane Street Group LLC now owns 32,901 shares of the scientific and technical instruments company’s stock worth $4,244,000 after acquiring an additional 7,951 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of ESCO Technologies in the 3rd quarter valued at approximately $19,412,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

ESCO Technologies Company Profile

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.