ESCO Technologies Inc. (NYSE:ESE) Short Interest Up 23.9% in March

ESCO Technologies Inc. (NYSE:ESE) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 208,500 shares, an increase of 23.9% from the February 28th total of 168,300 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average trading volume of 136,100 shares, the short-interest ratio is presently 1.5 days.

Institutional Trading of ESCO Technologies

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in ESCO Technologies by 152.6% during the fourth quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company’s stock valued at $50,634,000 after acquiring an additional 229,601 shares in the last quarter. Norges Bank purchased a new position in shares of ESCO Technologies during the 4th quarter valued at approximately $13,066,000. Rockefeller Capital Management L.P. acquired a new position in shares of ESCO Technologies in the 4th quarter valued at $11,435,000. JPMorgan Chase & Co. lifted its stake in shares of ESCO Technologies by 87.3% in the 4th quarter. JPMorgan Chase & Co. now owns 144,039 shares of the scientific and technical instruments company’s stock valued at $19,187,000 after purchasing an additional 67,116 shares during the period. Finally, State Street Corp boosted its holdings in ESCO Technologies by 4.9% during the third quarter. State Street Corp now owns 1,054,039 shares of the scientific and technical instruments company’s stock worth $135,950,000 after buying an additional 49,577 shares in the last quarter. Hedge funds and other institutional investors own 95.70% of the company’s stock.

ESCO Technologies Price Performance

Shares of NYSE:ESE opened at $160.76 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. ESCO Technologies has a twelve month low of $97.11 and a twelve month high of $171.28. The company’s 50 day moving average is $154.88 and its 200 day moving average is $141.44. The company has a market cap of $4.15 billion, a PE ratio of 37.74 and a beta of 1.11.

ESCO Technologies (NYSE:ESE) last released its quarterly earnings data on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.34. ESCO Technologies had a net margin of 10.44% and a return on equity of 9.91%. On average, sell-side analysts forecast that ESCO Technologies will post 5.65 EPS for the current year.

ESCO Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, April 2nd will be issued a $0.08 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.20%. ESCO Technologies’s dividend payout ratio (DPR) is presently 7.51%.

Analyst Ratings Changes

Several brokerages recently issued reports on ESE. StockNews.com lowered ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Benchmark upped their target price on ESCO Technologies from $150.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Stephens reaffirmed an “overweight” rating and set a $175.00 price target on shares of ESCO Technologies in a research report on Thursday, February 27th.

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.