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 note issued to investors on Tuesday morning.

Other analysts have also issued research reports about the stock. Benchmark restated a “buy” rating and issued a $150.00 price target on shares of ESCO Technologies in a research note on Friday, November 15th. Stephens raised 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, September 27th.

ESCO Technologies Price Performance

Shares of NYSE ESE opened at $148.82 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. ESCO Technologies has a fifty-two week low of $96.69 and a fifty-two week high of $154.00. The business has a 50 day moving average price of $131.59 and a two-hundred day moving average price of $119.26. The firm has a market cap of $3.83 billion, a PE ratio of 38.50 and a beta of 1.08.

ESCO Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, January 2nd. ESCO Technologies’s dividend payout ratio is currently 8.12%.

Hedge Funds Weigh In On ESCO Technologies

Several large investors have recently added to or reduced their stakes in ESE. Vanguard Group Inc. raised its holdings in shares of ESCO Technologies by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,895,420 shares of the scientific and technical instruments company’s stock worth $309,955,000 after purchasing an additional 15,801 shares during the period. Dimensional Fund Advisors LP grew its position in shares of ESCO Technologies by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,372,850 shares of the scientific and technical instruments company’s stock valued at $144,204,000 after buying an additional 16,152 shares during the last quarter. State Street Corp grew its position in shares of ESCO Technologies by 4.9% during 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. Conestoga Capital Advisors LLC raised its stake in ESCO Technologies by 1.8% during the third quarter. Conestoga Capital Advisors LLC now owns 1,047,741 shares of the scientific and technical instruments company’s stock worth $135,138,000 after acquiring an additional 18,676 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in ESCO Technologies by 3.3% in the third quarter. Loomis Sayles & Co. L P now owns 438,536 shares of the scientific and technical instruments company’s stock worth $56,563,000 after acquiring an additional 13,894 shares during the last quarter. 95.70% of the stock is currently 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.