Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Should You Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up prior to trading on Thursday . The stock had previously closed at $818.97, but opened at $864.56. Elbit Systems shares last traded at $883.7720, with a volume of 29,299 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and issued a $950.00 price target on shares of Elbit Systems in a research note on Wednesday, May 27th. Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their price target on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $742.75.

Elbit Systems Stock Performance

The stock has a fifty day simple moving average of $842.64 and a 200-day simple moving average of $741.20. The stock has a market cap of $40.14 billion, a P/E ratio of 73.12, a PEG ratio of 3.41 and a beta of 0.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.89. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. On average, equities analysts expect that Elbit Systems Ltd. will post 15.94 earnings per share for the current year.

Elbit Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s payout ratio is currently 26.88%.

Insider Activity at Elbit Systems

In other news, EVP Haim Daniel Delmar sold 7,654 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Ariel sold 7,654 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 69,736 shares of company stock valued at $61,883,726. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ESLT. CoreCap Advisors LLC acquired a new position in Elbit Systems during the fourth quarter valued at approximately $26,000. WPG Advisers LLC acquired a new position in Elbit Systems during the first quarter valued at approximately $26,000. Optiver Holding B.V. acquired a new position in Elbit Systems during the first quarter valued at approximately $46,000. Wexford Capital LP acquired a new position in Elbit Systems during the third quarter valued at approximately $63,000. Finally, Leonteq Securities AG acquired a new position in Elbit Systems during the fourth quarter valued at approximately $68,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.