Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Down 46.5% in May

Elbit Systems Ltd. (NASDAQ:ESLT) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 103,811 shares, a decline of 46.5% from the May 14th total of 194,138 shares. Based on an average trading volume of 154,389 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are sold short.

Elbit Systems Stock Down 4.6%

Shares of ESLT stock traded down $39.41 during mid-day trading on Monday, hitting $814.65. The stock had a trading volume of 134,144 shares, compared to its average volume of 148,685. Elbit Systems has a 12-month low of $415.90 and a 12-month high of $1,016.06. The firm has a market capitalization of $36.21 billion, a P/E ratio of 65.96, a price-to-earnings-growth ratio of 3.53 and a beta of 0.14. The firm’s 50-day moving average is $843.07 and its two-hundred day moving average is $746.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 0.86.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. On average, analysts predict that Elbit Systems will post 15.72 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

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

Insider Activity at Elbit Systems

In related news, EVP Jonathan Ariel sold 7,654 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bezhalel Machlis sold 25,514 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $22,641,123.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,736 shares of company stock worth $61,883,726 over the last quarter. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Pinpoint Asset Management Singapore Pte. Ltd. grew its stake in Elbit Systems by 296.0% during the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock valued at $3,553,000 after purchasing an additional 5,210 shares during the last quarter. ARK Investment Management LLC grew its stake in Elbit Systems by 11.6% during the 3rd quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock valued at $27,309,000 after purchasing an additional 5,550 shares during the last quarter. Van ECK Associates Corp grew its stake in Elbit Systems by 3,162.0% during the 3rd 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 during the last quarter. Cadent Capital Advisors LLC purchased a new stake in Elbit Systems during the 4th quarter valued at about $1,493,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Elbit Systems by 709.3% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company’s stock valued at $50,948,000 after purchasing an additional 77,192 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESLT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $950.00 target price on shares of Elbit Systems in a report on Wednesday, May 27th. Finally, Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Elbit Systems has an average rating of “Moderate Buy” and an average price target of $742.75.

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.