ESCO Technologies (NYSE:ESE) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of ESCO Technologies (NYSE:ESE - Free Report) from a buy rating to a hold rating in a research note released on Tuesday.

Several other research firms have also recently issued reports on ESE. Benchmark reaffirmed a "buy" rating and issued a $150.00 price target on shares of ESCO Technologies in a report on Friday, November 15th. Stephens boosted their target price on shares of ESCO Technologies from $135.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, September 27th.

ESCO Technologies Price Performance

Shares of NYSE ESE traded down $2.56 during trading on Tuesday, hitting $148.82. The company had a trading volume of 125,459 shares, compared to its average volume of 126,813. The company has a market cap of $3.83 billion, a P/E ratio of 38.50 and a beta of 1.08. ESCO Technologies has a 52 week low of $96.69 and a 52 week high of $154.00. The business's 50-day moving average is $131.59 and its 200 day moving average is $119.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91.

ESCO Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. ESCO Technologies's dividend payout ratio is 8.12%.

Institutional Trading of ESCO Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Advisors Inc. acquired a new position in ESCO Technologies during the second quarter worth $36,000. Innealta Capital LLC acquired a new position in ESCO Technologies during the second quarter worth $50,000. GAMMA Investing LLC increased its position in ESCO Technologies by 43.0% during the third quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company's stock worth $60,000 after buying an additional 141 shares during the last quarter. Signaturefd LLC increased its position in ESCO Technologies by 17.9% during the third quarter. Signaturefd LLC now owns 990 shares of the scientific and technical instruments company's stock worth $128,000 after buying an additional 150 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in ESCO Technologies during the second quarter worth $205,000. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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.