ESCO Technologies Inc. (NYSE:ESE) Short Interest Up 6.2% in October

ESCO Technologies Inc. (NYSE:ESE) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 296,500 shares, a growth of 6.2% from the September 30th total of 279,100 shares. Based on an average daily volume of 102,900 shares, the days-to-cover ratio is currently 2.9 days. Approximately 1.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On ESCO Technologies

A number of large investors have recently made changes to their positions in ESE. Vanguard Group Inc. boosted its holdings in ESCO Technologies by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,895,420 shares of the scientific and technical instruments company’s stock valued at $309,955,000 after purchasing an additional 15,801 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ESCO Technologies by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,372,850 shares of the scientific and technical instruments company’s stock worth $144,204,000 after buying an additional 16,152 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in ESCO Technologies by 6.1% during the first quarter. Champlain Investment Partners LLC now owns 1,215,101 shares of the scientific and technical instruments company’s stock worth $130,077,000 after acquiring an additional 69,500 shares during the period. Conestoga Capital Advisors LLC raised its position 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 valued at $135,138,000 after acquiring an additional 18,676 shares in the last quarter. Finally, Select Equity Group L.P. lifted its holdings in ESCO Technologies by 277.5% in the second 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 during the period. 95.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESE has been the topic of several recent analyst reports. Stephens lifted their target price on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Benchmark began coverage on ESCO Technologies in a research note on Monday, October 21st. They set a “buy” rating and a $150.00 target price on the stock.

ESCO Technologies Stock Up 2.2 %

Shares of ESE stock traded up $2.71 on Friday, hitting $128.25. The stock had a trading volume of 37,589 shares, compared to its average volume of 123,888. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.13. ESCO Technologies has a one year low of $96.69 and a one year high of $131.26. The business has a 50 day moving average price of $123.21 and a 200 day moving average price of $114.53. The company has a market cap of $3.30 billion, a PE ratio of 32.53 and a beta of 1.08.

ESCO Technologies (NYSE:ESE) last announced its earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.03). ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. The firm had revenue of $260.78 million during the quarter. Research analysts anticipate that ESCO Technologies will post 4.15 earnings per share for the current fiscal year.

ESCO Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Wednesday, October 2nd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, October 2nd. ESCO Technologies’s dividend payout ratio is presently 8.29%.

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.