StockNews.com Downgrades ESCO Technologies (NYSE:ESE) to Hold

StockNews.com cut shares of ESCO Technologies (NYSE:ESE) from a buy rating to a hold rating in a research note released on Friday.

Other research analysts have also recently issued reports about the company. Benchmark lifted their price target on ESCO Technologies from $150.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Stephens reiterated an “overweight” rating and issued a $175.00 price objective on shares of ESCO Technologies in a research report on Thursday, February 27th.

ESCO Technologies Stock Performance

NYSE ESE opened at $158.92 on Friday. ESCO Technologies has a 1-year low of $97.11 and a 1-year high of $171.28. The company has a 50 day moving average of $150.54 and a 200-day moving average of $139.12. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 37.31 and a beta of 1.11.

ESCO Technologies (NYSE:ESE) last released its quarterly earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.91% and a net margin of 10.44%. On average, equities analysts forecast that ESCO Technologies will post 5.65 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Wednesday, April 2nd. ESCO Technologies’s payout ratio is 7.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ESE. Wellington Management Group LLP increased its holdings in ESCO Technologies by 152.6% in the fourth quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company’s stock valued at $50,634,000 after purchasing an additional 229,601 shares during the last quarter. Norges Bank bought a new stake in shares of ESCO Technologies in the 4th quarter valued at about $13,066,000. Rockefeller Capital Management L.P. acquired a new stake in shares of ESCO Technologies in the 4th quarter valued at approximately $11,435,000. JPMorgan Chase & Co. raised its position in shares of ESCO Technologies by 87.3% in the 4th quarter. JPMorgan Chase & Co. now owns 144,039 shares of the scientific and technical instruments company’s stock valued at $19,187,000 after acquiring an additional 67,116 shares during the period. Finally, State Street Corp boosted its stake in ESCO Technologies by 4.9% during the 3rd quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock worth $135,950,000 after acquiring an additional 49,577 shares during the last quarter. 95.70% of the stock is currently 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.