Short Interest in ESCO Technologies Inc. (NYSE:ESE) Rises By 6.6%

ESCO Technologies Inc. (NYSE:ESE) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 364,100 shares, a growth of 6.6% from the August 31st total of 341,700 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 129,200 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On ESCO Technologies

Institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new position in ESCO Technologies in the 2nd quarter worth approximately $36,000. Innealta Capital LLC bought a new stake in ESCO Technologies during the 2nd quarter worth approximately $50,000. YHB Investment Advisors Inc. purchased a new stake in ESCO Technologies in the 1st quarter worth approximately $56,000. TFO Wealth Partners LLC boosted its holdings in ESCO Technologies by 53,200.0% in the 4th quarter. TFO Wealth Partners LLC now owns 533 shares of the scientific and technical instruments company’s stock valued at $62,000 after purchasing an additional 532 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of ESCO Technologies during the 1st quarter valued at $126,000. 95.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stephens lifted their price objective on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday.

ESCO Technologies Stock Performance

Shares of ESCO Technologies stock traded down $1.00 during mid-day trading on Tuesday, hitting $127.98. 72,329 shares of the stock were exchanged, compared to its average volume of 127,817. ESCO Technologies has a 12 month low of $94.59 and a 12 month high of $130.89. The company has a 50-day simple moving average of $119.68 and a 200 day simple moving average of $110.95. The company has a market capitalization of $3.30 billion, a P/E ratio of 33.22 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 (NYSE:ESE) last released its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). The company had revenue of $260.78 million during the quarter. ESCO Technologies had a net margin of 9.95% and a return on equity of 8.82%. Sell-side analysts anticipate that ESCO Technologies will post 4.15 earnings per share for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Wednesday, October 2nd. ESCO Technologies’s dividend payout ratio (DPR) is currently 8.40%.

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.