Elbit Systems (NASDAQ:ESLT) Stock Price Down 5.3% – Time to Sell?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price traded down 5.3% during trading on Friday . The company traded as low as $861.48 and last traded at $864.4140. 10,113 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 147,873 shares. The stock had previously closed at $913.20.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Down 6.4%

The firm has a market capitalization of $38.01 billion, a PE ratio of 69.06, a price-to-earnings-growth ratio of 3.33 and a beta of 0.14. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The company’s 50-day simple moving average is $843.92 and its 200 day simple moving average is $744.29.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 15.94 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a yield of 0.5%. Elbit Systems’s dividend payout ratio (DPR) is currently 26.96%.

Insider Transactions at Elbit Systems

In other news, CEO Bezhalel Machlis sold 25,514 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $22,641,123.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Ariel sold 7,654 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were 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 three months, insiders have sold 69,736 shares of company stock worth $61,883,726. Insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

A number of institutional investors and hedge funds have recently bought and sold shares of ESLT. Van ECK Associates Corp boosted its stake in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Elbit Systems by 34.4% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after buying an additional 397,049 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Elbit Systems during the third quarter valued at about $172,673,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Elbit Systems by 206.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock worth $228,914,000 after purchasing an additional 181,524 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Elbit Systems in the first quarter valued at $128,135,000. 17.88% of the stock is currently 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.