ESCO Technologies (NYSE:ESE) Sets New 12-Month High Following Dividend Announcement

ESCO Technologies Inc. (NYSE:ESE)’s share price reached a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as $154.00 and last traded at $150.00, with a volume of 35644 shares traded. The stock had previously closed at $140.00.

The newly announced dividend which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. ESCO Technologies’s payout ratio is 8.12%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ESE shares. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of ESCO Technologies in a research note on Friday. Stephens lifted their price objective on shares of ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, September 27th.

ESCO Technologies Stock Up 3.1 %

The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $3.72 billion, a P/E ratio of 36.62 and a beta of 1.08. The company has a fifty day moving average price of $127.95 and a 200-day moving average price of $117.37.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Select Equity Group L.P. lifted its holdings in shares of 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 acquiring an additional 290,711 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of ESCO Technologies in the 3rd quarter valued at approximately $19,412,000. Federated Hermes Inc. purchased a new position in shares of ESCO Technologies in the 2nd quarter worth approximately $15,632,000. F M Investments LLC purchased a new position in shares of ESCO Technologies in the 2nd quarter worth approximately $9,455,000. Finally, Champlain Investment Partners LLC increased its position in shares of ESCO Technologies by 6.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock valued at $130,077,000 after purchasing an additional 69,500 shares during the last quarter. 95.70% of the stock is currently owned by institutional investors.

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.