ESCO Technologies Inc. (NYSE:ESE) Sees Significant Decline in Short Interest

ESCO Technologies Inc. (NYSE:ESE) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 263,300 shares, a decline of 11.2% from the October 15th total of 296,500 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 100,900 shares, the days-to-cover ratio is presently 2.6 days.

Analyst Ratings Changes

Several analysts have weighed in on ESE shares. Benchmark reissued a “buy” rating and set a $150.00 price objective on shares of ESCO Technologies in a report on Friday. Stephens upped their price target on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, September 27th.

ESCO Technologies Stock Up 0.8 %

Shares of ESE traded up $1.17 during mid-day trading on Monday, hitting $145.47. 148,427 shares of the company’s stock were exchanged, compared to its average volume of 126,530. The company has a market cap of $3.75 billion, a PE ratio of 37.18 and a beta of 1.08. ESCO Technologies has a 52 week low of $96.69 and a 52 week high of $154.00. The company has a 50-day simple moving average of $127.95 and a 200 day simple moving average of $117.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.39.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.22%. ESCO Technologies’s dividend payout ratio is presently 8.12%.

Hedge Funds Weigh In On ESCO Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in ESCO Technologies by 340.9% during the 3rd quarter. Barclays PLC now owns 44,413 shares of the scientific and technical instruments company’s stock valued at $5,728,000 after purchasing an additional 34,340 shares during the last quarter. First National Bank of Omaha raised its stake in ESCO Technologies by 25.8% in the third quarter. First National Bank of Omaha now owns 5,343 shares of the scientific and technical instruments company’s stock valued at $689,000 after purchasing an additional 1,095 shares in the last quarter. Dean Investment Associates LLC raised its stake in ESCO Technologies by 25.1% in the third quarter. Dean Investment Associates LLC now owns 38,569 shares of the scientific and technical instruments company’s stock valued at $4,975,000 after purchasing an additional 7,727 shares in the last quarter. Jane Street Group LLC raised its stake in ESCO Technologies by 31.9% in the third quarter. Jane Street Group LLC now owns 32,901 shares of the scientific and technical instruments company’s stock valued at $4,244,000 after purchasing an additional 7,951 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in ESCO Technologies in the third quarter valued at about $19,412,000. 95.70% of the stock is owned by institutional investors.

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.