ESCO Technologies Inc. (NYSE:ESE) Short Interest Up 26.7% in July

ESCO Technologies Inc. (NYSE:ESE) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 366,700 shares, a growth of 26.7% from the June 30th total of 289,500 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 138,700 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ESCO Technologies

Several institutional investors have recently made changes to their positions in ESE. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ESCO Technologies by 2.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,529 shares of the scientific and technical instruments company’s stock worth $1,349,000 after purchasing an additional 302 shares during the period. Allspring Global Investments Holdings LLC raised its stake in ESCO Technologies by 17.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 79,516 shares of the scientific and technical instruments company’s stock worth $9,306,000 after acquiring an additional 11,830 shares during the period. Sequoia Financial Advisors LLC bought a new stake in ESCO Technologies during the 4th quarter worth approximately $276,000. Moody Aldrich Partners LLC bought a new stake in ESCO Technologies during the 4th quarter worth approximately $4,491,000. Finally, Conestoga Capital Advisors LLC raised its stake in ESCO Technologies by 1.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,022,943 shares of the scientific and technical instruments company’s stock worth $119,715,000 after acquiring an additional 11,871 shares during the period. Institutional investors own 95.70% of the company’s stock.

ESCO Technologies Stock Performance

Shares of NYSE ESE traded up $0.24 during trading on Tuesday, reaching $121.65. 2,299 shares of the company traded hands, compared to its average volume of 134,753. The firm has a 50 day simple moving average of $109.78 and a 200-day simple moving average of $105.44. The company has a quick ratio of 1.42, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.13 billion, a PE ratio of 31.82 and a beta of 1.10. ESCO Technologies has a 52-week low of $94.59 and a 52-week high of $125.10.

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

ESCO Technologies Dividend Announcement

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

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.