Elbit Systems (NASDAQ:ESLT) Hits New 52-Week High – What’s Next?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $589.00 and last traded at $584.1350, with a volume of 20514 shares traded. The stock had previously closed at $577.71.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Morgan Stanley initiated coverage on shares of Elbit Systems in a research report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target for the company. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. lifted their price objective on shares of Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday. 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 presently has an average rating of “Hold” and an average price target of $550.33.

Elbit Systems Trading Up 1.8%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76. The firm has a fifty day moving average price of $503.24 and a 200-day moving average price of $482.19. The company has a market capitalization of $26.13 billion, a P/E ratio of 59.58, a price-to-earnings-growth ratio of 2.00 and a beta of 0.21.

Elbit Systems (NASDAQ:ESLT) last announced 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. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. On average, equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 22nd. Elbit Systems’s payout ratio is currently 22.87%.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds have recently added to or reduced their stakes in ESLT. Vanguard Group Inc. boosted its stake in Elbit Systems by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 984,861 shares of the aerospace company’s stock worth $501,042,000 after purchasing an additional 45,073 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after buying an additional 628,236 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Elbit Systems by 35.1% during the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after buying an additional 158,689 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Elbit Systems by 2.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after acquiring an additional 12,003 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its holdings in Elbit Systems by 27.7% in the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after acquiring an additional 82,103 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.