ESCO Technologies (NYSE:ESE) Upgraded to Buy at StockNews.com

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

A number of other brokerages have also weighed in on ESE. Benchmark reiterated a "buy" rating and set a $150.00 price objective on shares of ESCO Technologies in a report on Friday, November 15th. Stephens boosted their price target on ESCO Technologies from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, September 27th.

ESCO Technologies Trading Up 1.4 %

ESE stock traded up $1.90 during midday trading on Tuesday, reaching $135.68. The company's stock had a trading volume of 20,686 shares, compared to its average volume of 124,198. ESCO Technologies has a 1 year low of $96.69 and a 1 year high of $154.00. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 34.44 and a beta of 1.11. The stock has a fifty day simple moving average of $138.57 and a two-hundred day simple moving average of $124.08. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.24%. The ex-dividend date is Thursday, January 2nd. ESCO Technologies's payout ratio is 8.12%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ESE. Bank of New York Mellon Corp raised its holdings in ESCO Technologies by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company's stock worth $29,754,000 after purchasing an additional 43,907 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of ESCO Technologies by 16.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 86,125 shares of the scientific and technical instruments company's stock worth $9,047,000 after acquiring an additional 12,165 shares in the last quarter. F M Investments LLC purchased a new stake in ESCO Technologies during the second quarter valued at approximately $9,455,000. Innealta Capital LLC acquired a new stake in ESCO Technologies in the second quarter valued at approximately $50,000. Finally, Azzad Asset Management Inc. ADV purchased a new position in ESCO Technologies in the second quarter worth $551,000. 95.70% of the stock is owned by 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.