ESCO Technologies (NYSE:ESE) Reaches New 52-Week High - Here's Why

ESCO Technologies Inc. (NYSE:ESE - Get Free Report) hit a new 52-week high during trading on Saturday . The stock traded as high as $162.74 and last traded at $158.73, with a volume of 331908 shares. The stock had previously closed at $132.42.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Benchmark boosted their price target on shares of ESCO Technologies from $150.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday. StockNews.com upgraded ESCO Technologies from a "hold" rating to a "buy" rating in a research report on Monday, January 20th.

ESCO Technologies Trading Up 1.6 %

The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $4.26 billion, a P/E ratio of 38.78 and a beta of 1.13. The firm's 50-day simple moving average is $136.27 and its 200-day simple moving average is $130.27.

ESCO Technologies (NYSE:ESE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.34. ESCO Technologies had a net margin of 10.44% and a return on equity of 9.99%. Analysts anticipate that ESCO Technologies Inc. will post 4.8 EPS for the current year.

ESCO Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Wednesday, April 2nd. ESCO Technologies's payout ratio is currently 7.51%.

Institutional Investors Weigh In On ESCO Technologies

A number of hedge funds have recently made changes to their positions in the business. Mather Group LLC. purchased a new position in shares of ESCO Technologies in the fourth quarter valued at about $30,000. Jones Financial Companies Lllp grew its holdings in shares of ESCO Technologies by 747.1% during the 4th 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 period. First Horizon Advisors Inc. raised its position in shares of ESCO Technologies by 20.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 411 shares of the scientific and technical instruments company's stock worth $53,000 after acquiring an additional 71 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ESCO Technologies by 43.0% in the 3rd quarter. GAMMA Investing LLC now owns 469 shares of the scientific and technical instruments company's stock worth $60,000 after acquiring an additional 141 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of ESCO Technologies by 378.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 565 shares of the scientific and technical instruments company's stock valued at $75,000 after purchasing an additional 447 shares during the period. 95.70% of the stock is currently owned by institutional investors.

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.