ESCO Technologies (NYSE:ESE) Shares Gap Up After Strong Earnings

ESCO Technologies Inc. (NYSE:ESE) gapped up before the market opened 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.

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 net margin of 9.92% and a return on equity of 9.09%.

ESCO Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. ESCO Technologies’s dividend payout ratio (DPR) is currently 8.12%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com upgraded ESCO Technologies from a “hold” rating to a “buy” rating in a research note on Monday, January 20th. Benchmark restated a “buy” rating and issued a $150.00 price objective on shares of ESCO Technologies in a research note on Friday, November 15th.

Hedge Funds Weigh In On ESCO Technologies

Institutional investors have recently modified their holdings of the stock. Cerity Partners LLC boosted its holdings in ESCO Technologies by 55.8% during the third quarter. Cerity Partners LLC now owns 11,516 shares of the scientific and technical instruments company’s stock worth $1,485,000 after buying an additional 4,125 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of ESCO Technologies by 9.1% during the 3rd quarter. Victory Capital Management Inc. now owns 70,387 shares of the scientific and technical instruments company’s stock worth $9,079,000 after acquiring an additional 5,874 shares in the last quarter. Premier Fund Managers Ltd acquired a new stake in shares of ESCO Technologies during the 3rd quarter valued at about $942,000. Creative Planning increased its stake in shares of ESCO Technologies by 53.1% in the 3rd quarter. Creative Planning now owns 13,043 shares of the scientific and technical instruments company’s stock valued at $1,682,000 after purchasing an additional 4,526 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in ESCO Technologies by 5.3% in the third quarter. HighTower Advisors LLC now owns 2,477 shares of the scientific and technical instruments company’s stock valued at $320,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 95.70% of the company’s stock.

ESCO Technologies Trading Up 19.9 %

The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 40.29 and a beta of 1.13. 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 company has a 50 day moving average price of $135.81 and a two-hundred day moving average price of $129.61.

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.