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

StockNews.com lowered shares of ESCO Technologies (NYSE:ESE) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other brokerages have also issued reports on ESE. Stephens increased their target price on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Benchmark restated a “buy” rating and issued a $150.00 target price on shares of ESCO Technologies in a research note on Friday, November 15th.

ESCO Technologies Price Performance

Shares of ESE opened at $148.09 on Tuesday. The firm has a market cap of $3.81 billion, a PE ratio of 37.59 and a beta of 1.08. ESCO Technologies has a 52-week low of $96.69 and a 52-week high of $154.00. The business’s 50 day moving average price is $133.06 and its two-hundred day moving average price is $119.97. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91.

ESCO Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.22%. ESCO Technologies’s dividend payout ratio (DPR) is presently 8.12%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Select Equity Group L.P. lifted its position in 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 in the last quarter. Wellington Management Group LLP bought a new position in shares of ESCO Technologies in the third quarter valued at approximately $19,412,000. Federated Hermes Inc. purchased a new position in shares of ESCO Technologies during the second quarter valued at approximately $15,632,000. F M Investments LLC bought a new stake in ESCO Technologies during the second quarter worth $9,455,000. Finally, State Street Corp raised its position in ESCO Technologies by 4.9% in the 3rd quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock valued at $135,950,000 after buying an additional 49,577 shares during the last quarter. 95.70% of the stock is 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.