ESCO Technologies Inc. (NYSE:ESE – Get Free Report) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 429,479 shares, an increase of 16.5% from the March 31st total of 368,530 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 342,065 shares, the short-interest ratio is presently 1.3 days.
Hedge Funds Weigh In On ESCO Technologies
A number of large investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in ESCO Technologies in the 3rd quarter valued at about $27,000. Quarry LP boosted its position in ESCO Technologies by 842.9% in the 4th quarter. Quarry LP now owns 132 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 118 shares during the period. Private Trust Co. NA boosted its position in ESCO Technologies by 118.5% in the 3rd quarter. Private Trust Co. NA now owns 142 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 77 shares during the period. SBI Securities Co. Ltd. boosted its position in ESCO Technologies by 3,140.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 162 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 157 shares during the period. Finally, First Horizon Corp purchased a new stake in ESCO Technologies in the 3rd quarter valued at about $36,000. 95.70% of the stock is owned by hedge funds and other institutional investors.
ESCO Technologies Trading Up 0.8%
Shares of ESE stock traded up $2.55 during trading hours on Friday, reaching $326.50. 187,453 shares of the stock were exchanged, compared to its average volume of 352,504. ESCO Technologies has a 12-month low of $161.61 and a 12-month high of $327.28. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $289.48 and its 200-day moving average price is $243.71. The firm has a market capitalization of $8.46 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 2.02 and a beta of 1.18.
ESCO Technologies Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Investors of record on Thursday, April 2nd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.1%. ESCO Technologies’s payout ratio is currently 2.72%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Wall Street Zen downgraded shares of ESCO Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Weiss Ratings downgraded shares of ESCO Technologies from a “buy (a-)” rating to a “buy (b)” rating in a report on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price objective on shares of ESCO Technologies in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $300.00.
Check Out Our Latest Analysis on ESE
About ESCO Technologies
ESCO Technologies Inc is a diversified manufacturer of engineered products and systems designed to meet customers’ critical performance requirements in the test, measurement, control, and filtration of data, fluids, and gases. The company serves a wide range of end markets, including commercial aerospace, defense, industrial, medical, and communication network sectors. ESCO’s solutions are tailored to environments where reliability, precision and regulatory compliance are paramount.
Operating through multiple business segments, ESCO Technologies delivers test and measurement instruments such as RF and microwave components, signal distribution systems, and integrated test enclosures that support defense and aerospace programs.
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