Elbit Systems (NASDAQ:ESLT) Reaches New 12-Month High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $547.14 and last traded at $545.9290, with a volume of 48127 shares changing hands. The stock had previously closed at $523.08.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. started coverage on Elbit Systems in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 price objective for the company. Bank of America lifted their target price on Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Elbit Systems in a research note on Monday. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $530.33.

Elbit Systems Stock Performance

The stock has a 50-day moving average price of $486.09 and a 200 day moving average price of $470.80. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $24.31 billion, a price-to-earnings ratio of 55.58, a P/E/G ratio of 1.78 and a beta of 0.24.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 22nd. Elbit Systems’s dividend payout ratio is 25.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ESLT. Assetmark Inc. increased its holdings in shares of Elbit Systems by 11.2% in the 2nd quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after purchasing an additional 21 shares in the last quarter. SteelPeak Wealth LLC grew its position in Elbit Systems by 1.1% during the third quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock worth $950,000 after buying an additional 21 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Elbit Systems by 2.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock worth $608,000 after buying an additional 29 shares during the period. SBI Securities Co. Ltd. increased its holdings in Elbit Systems by 20.9% in the second quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after buying an additional 32 shares in the last quarter. Finally, West Family Investments Inc. lifted its position in shares of Elbit Systems by 2.9% during the 3rd quarter. West Family Investments Inc. now owns 1,136 shares of the aerospace company’s stock valued at $579,000 after acquiring an additional 32 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.