Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $663.05 and last traded at $657.91, with a volume of 164500 shares traded. The stock had previously closed at $640.07.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen lowered Elbit Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Morgan Stanley started 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 on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $550.33.

Elbit Systems Trading Up 2.8%

The company has a market capitalization of $29.24 billion, a price-to-earnings ratio of 66.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.22. The business has a fifty day moving average price of $514.97 and a 200 day moving average price of $487.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76.

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

Elbit Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.75 per share. The ex-dividend date was Monday, December 22nd. This represents a $3.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems’s payout ratio is presently 22.87%.

Institutional Investors Weigh In On Elbit Systems

A number of institutional investors have recently added to or reduced their stakes in ESLT. Royal Bank of Canada raised its holdings in Elbit Systems by 98.9% in the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock valued at $946,000 after acquiring an additional 1,225 shares in the last quarter. Amundi increased its position in shares of Elbit Systems by 12.4% during the first quarter. Amundi now owns 13,332 shares of the aerospace company’s stock valued at $5,202,000 after purchasing an additional 1,467 shares during the period. AQR Capital Management LLC acquired a new position in shares of Elbit Systems in the first quarter valued at $353,000. NewEdge Advisors LLC lifted its position in Elbit Systems by 3,461.1% in the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after purchasing an additional 623 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Elbit Systems by 25,436.8% in the first quarter. Jones Financial Companies Lllp now owns 4,852 shares of the aerospace company’s stock worth $1,862,000 after purchasing an additional 4,833 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

About Elbit Systems

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.