ESCO Technologies (NYSE:ESE) Shares Gap Up After Better-Than-Expected Earnings

ESCO Technologies Inc. (NYSE:ESE)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $132.42, but opened at $142.99. ESCO Technologies shares last traded at $154.09, with a volume of 32,999 shares.

The scientific and technical instruments company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.34. ESCO Technologies had a return on equity of 9.09% and a net margin of 9.92%.

ESCO Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Wednesday, April 2nd. ESCO Technologies’s payout ratio is 8.12%.

Wall Street Analyst Weigh In

ESE has been the topic of a number of recent research reports. StockNews.com upgraded shares of ESCO Technologies from a “hold” rating to a “buy” rating in a research report on Monday, January 20th. Benchmark restated a “buy” rating and set a $150.00 target price on shares of ESCO Technologies in a report on Friday, November 15th.

Institutional Investors Weigh In On ESCO Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of ESCO Technologies by 215.4% in the 4th quarter. HighTower Advisors LLC now owns 7,813 shares of the scientific and technical instruments company’s stock valued at $1,041,000 after buying an additional 5,336 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in ESCO Technologies by 27.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,775 shares of the scientific and technical instruments company’s stock worth $902,000 after acquiring an additional 1,464 shares during the period. AlphaQuest LLC increased its stake in ESCO Technologies by 102,833.3% during the fourth quarter. AlphaQuest LLC now owns 3,088 shares of the scientific and technical instruments company’s stock worth $411,000 after acquiring an additional 3,085 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in ESCO Technologies in the fourth quarter valued at $1,170,000. Finally, Atria Investments Inc acquired a new position in shares of ESCO Technologies in the 4th quarter valued at $267,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

ESCO Technologies Trading Up 19.9 %

The firm has a market capitalization of $4.09 billion, a PE ratio of 40.29 and a beta of 1.13. The business has a fifty day moving average price of $135.81 and a two-hundred day moving average price of $129.61. The company has a current ratio of 1.91, a quick ratio of 1.31 and a debt-to-equity ratio of 0.08.

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.