Short Interest in ESCO Technologies Inc. (NYSE:ESE) Rises By 26.7%

ESCO Technologies Inc. (NYSE:ESE) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 366,700 shares, an increase of 26.7% from the June 30th total of 289,500 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 138,700 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analyst Weigh In

Separately, Stephens reiterated an “overweight” rating and set a $125.00 target price on shares of ESCO Technologies in a research report on Tuesday, July 9th.

ESCO Technologies Trading Up 1.7 %

NYSE ESE traded up $2.09 during trading hours on Friday, hitting $124.30. The company’s stock had a trading volume of 156,655 shares, compared to its average volume of 173,644. The stock has a fifty day moving average of $109.56 and a 200 day moving average of $105.28. ESCO Technologies has a twelve month low of $94.59 and a twelve month high of $125.10. The firm has a market capitalization of $3.20 billion, a P/E ratio of 32.62 and a beta of 1.10. The company has a quick ratio of 1.42, a current ratio of 2.15 and a debt-to-equity ratio of 0.15.

ESCO Technologies (NYSE:ESE) last announced its quarterly earnings data on Thursday, May 9th. The scientific and technical instruments company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. ESCO Technologies had a net margin of 9.94% and a return on equity of 8.83%. The business had revenue of $249.10 million for the quarter, compared to analyst estimates of $241.15 million. During the same period in the prior year, the business posted $0.76 earnings per share. ESCO Technologies’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that ESCO Technologies will post 4.22 earnings per share for the current fiscal year.

ESCO Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Wednesday, July 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $0.32 annualized dividend and a yield of 0.26%. ESCO Technologies’s dividend payout ratio is currently 8.40%.

Hedge Funds Weigh In On ESCO Technologies

Several large investors have recently bought and sold shares of the business. First Horizon Advisors Inc. bought a new stake in ESCO Technologies in the second quarter valued at approximately $36,000. GAMMA Investing LLC bought a new stake in ESCO Technologies in the fourth quarter valued at approximately $45,000. YHB Investment Advisors Inc. bought a new stake in ESCO Technologies in the first quarter valued at approximately $56,000. TFO Wealth Partners LLC increased its stake in ESCO Technologies by 53,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 533 shares of the scientific and technical instruments company’s stock valued at $62,000 after purchasing an additional 532 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in ESCO Technologies in the first quarter valued at approximately $126,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.

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.