Elbit Systems (NASDAQ:ESLT) Price Target Raised to $580.00

Elbit Systems (NASDAQ:ESLT) had its target price hoisted by JPMorgan Chase & Co. from $530.00 to $580.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

A number of other equities research analysts have also weighed in on ESLT. Morgan Stanley started coverage on Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price for the company. Wall Street Zen lowered Elbit Systems from a “buy” rating to a “hold” rating in a research note 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Elbit Systems in a research note on Monday, December 15th. Finally, Bank of America increased their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Trading Up 2.4%

Shares of ESLT opened at $554.25 on Friday. The firm has a market capitalization of $24.64 billion, a price-to-earnings ratio of 56.33, a PEG ratio of 1.92 and a beta of 0.24. 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 has a 1-year low of $255.01 and a 1-year high of $557.11. The company has a 50-day moving average of $488.19 and a 200 day moving average of $473.38.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 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, research analysts expect that Elbit Systems will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, December 22nd. Elbit Systems’s dividend payout ratio is currently 25.41%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its stake in Elbit Systems by 11.2% in the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after buying an additional 21 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Elbit Systems by 1.1% during the third quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock valued at $950,000 after acquiring an additional 21 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Elbit Systems by 2.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock valued at $608,000 after acquiring an additional 29 shares in the last quarter. SBI Securities Co. Ltd. raised its position in shares of Elbit Systems by 20.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 32 shares during the last quarter. Finally, West Family Investments Inc. boosted its stake in Elbit Systems by 2.9% in the 3rd quarter. West Family Investments Inc. now owns 1,136 shares of the aerospace company’s stock worth $579,000 after purchasing an additional 32 shares in the last quarter. 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.