ESCO Technologies Inc. (NYSE:ESE) Short Interest Down 11.2% in October

ESCO Technologies Inc. (NYSE:ESE) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 263,300 shares, a decrease of 11.2% from the October 15th total of 296,500 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average trading volume of 100,900 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its position in ESCO Technologies by 277.5% in the 2nd quarter. Select Equity Group L.P. now owns 395,460 shares of the scientific and technical instruments company’s stock valued at $41,539,000 after purchasing an additional 290,711 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of ESCO Technologies during the 3rd quarter worth approximately $19,412,000. Federated Hermes Inc. purchased a new position in ESCO Technologies in the 2nd quarter valued at about $15,632,000. F M Investments LLC acquired a new stake in shares of ESCO Technologies during the second quarter worth $9,455,000. Finally, Champlain Investment Partners LLC increased its position in ESCO Technologies by 6.1% during the first quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock worth $130,077,000 after purchasing an additional 69,500 shares during the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

ESCO Technologies Trading Up 1.0 %

Shares of ESCO Technologies stock traded up $1.42 on Tuesday, reaching $146.89. The company had a trading volume of 32,982 shares, compared to its average volume of 126,112. ESCO Technologies has a 52-week low of $96.69 and a 52-week high of $154.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91. The firm’s 50 day moving average price is $127.95 and its two-hundred day moving average price is $117.59. The firm has a market cap of $3.78 billion, a PE ratio of 36.94 and a beta of 1.08.

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. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. ESCO Technologies’s dividend payout ratio (DPR) is presently 8.12%.

Wall Street Analyst Weigh In

A number of research firms have commented on ESE. Stephens increased their price target on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. StockNews.com upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $150.00 price target on shares of ESCO Technologies in a research note on Friday.

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.