ESCO Technologies Inc. (NYSE:ESE) Short Interest Update

ESCO Technologies Inc. (NYSE:ESE) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 287,400 shares, a growth of 5.5% from the November 30th total of 272,300 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 111,400 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ESE. StockNews.com lowered shares of ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens lifted their target price on ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Finally, Benchmark reaffirmed a “buy” rating and set a $150.00 target price on shares of ESCO Technologies in a research report on Friday, November 15th.

Institutional Trading of ESCO Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in ESCO Technologies by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock worth $29,754,000 after purchasing an additional 43,907 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of ESCO Technologies in the 2nd quarter valued at approximately $1,587,000. Rhumbline Advisers increased its holdings in ESCO Technologies by 0.6% in the second quarter. Rhumbline Advisers now owns 76,505 shares of the scientific and technical instruments company’s stock worth $8,036,000 after buying an additional 493 shares during the last quarter. TD Asset Management Inc raised its position in ESCO Technologies by 4.8% during the second quarter. TD Asset Management Inc now owns 19,630 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after acquiring an additional 900 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in ESCO Technologies in the second quarter worth approximately $3,242,000. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

ESCO Technologies Stock Performance

Shares of ESE opened at $131.53 on Friday. The company has a market capitalization of $3.39 billion, a PE ratio of 33.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.31 and a current ratio of 1.91. The company’s 50 day moving average price is $139.68 and its 200 day moving average price is $125.40. ESCO Technologies has a 52 week low of $96.69 and a 52 week high of $154.00.

ESCO Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, January 2nd. ESCO Technologies’s dividend payout ratio is currently 8.12%.

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.