ESCO Technologies (NYSE:ESE) Shares Gap Up on Better-Than-Expected Earnings

ESCO Technologies Inc. (NYSE:ESE)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $132.42, but opened at $142.99. ESCO Technologies shares last traded at $154.09, with a volume of 32,999 shares traded.

The scientific and technical instruments company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.73 by $0.34. ESCO Technologies had a net margin of 9.92% and a return on equity of 9.09%.

ESCO Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.21%. ESCO Technologies’s dividend payout ratio (DPR) is currently 8.12%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark restated a “buy” rating and set a $150.00 target price on shares of ESCO Technologies in a research report on Friday, November 15th. StockNews.com upgraded ESCO Technologies from a “hold” rating to a “buy” rating in a research report on Monday, January 20th.

Hedge Funds Weigh In On ESCO Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in ESCO Technologies by 55.8% in the 3rd quarter. Cerity Partners LLC now owns 11,516 shares of the scientific and technical instruments company’s stock worth $1,485,000 after buying an additional 4,125 shares during the period. Victory Capital Management Inc. lifted its position in shares of ESCO Technologies by 9.1% during the third quarter. Victory Capital Management Inc. now owns 70,387 shares of the scientific and technical instruments company’s stock valued at $9,079,000 after buying an additional 5,874 shares during the last quarter. Premier Fund Managers Ltd bought a new stake in shares of ESCO Technologies in the 3rd quarter valued at about $942,000. Creative Planning grew its position in shares of ESCO Technologies by 53.1% in the 3rd quarter. Creative Planning now owns 13,043 shares of the scientific and technical instruments company’s stock worth $1,682,000 after buying an additional 4,526 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of ESCO Technologies by 5.3% during the 3rd quarter. HighTower Advisors LLC now owns 2,477 shares of the scientific and technical instruments company’s stock worth $320,000 after acquiring an additional 124 shares in the last quarter. 95.70% of the stock is currently owned by institutional investors.

ESCO Technologies Price Performance

The company has a market cap of $4.02 billion, a PE ratio of 39.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.31. The stock’s 50-day moving average is $136.12 and its 200 day moving average is $129.59.

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.