ESCO Technologies (NYSE:ESE) Shares Gap Up on Earnings Beat

ESCO Technologies Inc. (NYSE:ESE - Get Free Report)'s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $132.42, but opened at $142.99. ESCO Technologies shares last traded at $154.09, with a volume of 32,999 shares changing hands.

The scientific and technical instruments company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.99% and a net margin of 10.44%.

ESCO Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

ESE has been the subject of a number of recent analyst reports. Benchmark lifted their target price on ESCO Technologies from $150.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday. StockNews.com raised shares of ESCO Technologies from a "hold" rating to a "buy" rating in a report on Monday, January 20th.

Institutional Investors Weigh In On ESCO Technologies

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new stake in shares of ESCO Technologies in the 3rd quarter valued at $19,412,000. State Street Corp boosted its position in ESCO Technologies by 4.9% during the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company's stock valued at $135,950,000 after buying an additional 49,577 shares during the period. Tributary Capital Management LLC grew its stake in shares of ESCO Technologies by 28.7% during the third quarter. Tributary Capital Management LLC now owns 180,352 shares of the scientific and technical instruments company's stock valued at $23,262,000 after buying an additional 40,268 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of ESCO Technologies in the fourth quarter worth about $5,265,000. Finally, Barclays PLC lifted its stake in shares of ESCO Technologies by 340.9% in the 3rd quarter. Barclays PLC now owns 44,413 shares of the scientific and technical instruments company's stock valued at $5,728,000 after acquiring an additional 34,340 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors.

ESCO Technologies Price Performance

The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $136.01 and a two-hundred day moving average of $129.99. The company has a market capitalization of $4.25 billion, a PE ratio of 38.57 and a beta of 1.13.

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.