ESCO Technologies Inc. (NYSE:ESE) Sees Large Growth in Short Interest

ESCO Technologies Inc. (NYSE:ESE - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 296,500 shares, a growth of 6.2% from the September 30th total of 279,100 shares. Currently, 1.2% of the company's stock are sold short. Based on an average daily volume of 102,900 shares, the days-to-cover ratio is currently 2.9 days.

ESCO Technologies Price Performance

Shares of NYSE:ESE traded up $2.71 during midday trading on Friday, reaching $128.25. 94,663 shares of the company's stock were exchanged, compared to its average volume of 124,157. The firm has a market capitalization of $3.30 billion, a PE ratio of 33.16 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.39 and a current ratio of 2.10. ESCO Technologies has a 12 month low of $96.69 and a 12 month high of $131.26. The company's 50 day simple moving average is $123.21 and its two-hundred day simple moving average is $114.53.

ESCO Technologies (NYSE:ESE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.03). The firm had revenue of $260.78 million for the quarter. ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. Equities research analysts expect that ESCO Technologies will post 4.15 earnings per share for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 2nd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, October 2nd. ESCO Technologies's payout ratio is presently 8.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Ceredex Value Advisors LLC increased its position in ESCO Technologies by 0.5% in the third quarter. Ceredex Value Advisors LLC now owns 94,350 shares of the scientific and technical instruments company's stock worth $12,169,000 after purchasing an additional 500 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in ESCO Technologies by 1.8% during the third quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company's stock worth $135,138,000 after buying an additional 18,676 shares during the last quarter. Stephens Inc. AR acquired a new position in ESCO Technologies during the third quarter valued at approximately $786,000. US Bancorp DE grew its holdings in shares of ESCO Technologies by 7.1% in the 3rd quarter. US Bancorp DE now owns 12,361 shares of the scientific and technical instruments company's stock valued at $1,594,000 after buying an additional 822 shares during the period. Finally, Tributary Capital Management LLC increased its holdings in shares of ESCO Technologies by 28.7% in the third quarter. Tributary Capital Management LLC now owns 180,352 shares of the scientific and technical instruments company's stock worth $23,262,000 after acquiring an additional 40,268 shares in the last quarter. Institutional investors own 95.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ESE shares. Stephens boosted their price target on ESCO Technologies from $135.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, September 27th. Benchmark began coverage on shares of ESCO Technologies in a report on Monday, October 21st. They issued a "buy" rating and a $150.00 price target for the company.

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.