Elbit Systems (NASDAQ:ESLT) Hits New 52-Week High – Here’s What Happened

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during trading on Wednesday . The stock traded as high as $724.92 and last traded at $721.2190, with a volume of 86855 shares traded. The stock had previously closed at $699.50.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESLT. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a research note on Monday, December 29th. Wall Street Zen lowered Elbit Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Morgan Stanley assumed coverage on shares of Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Up 1.4%

The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $547.90 and its 200 day moving average price is $500.52. The firm has a market cap of $32.49 billion, a P/E ratio of 74.27, a price-to-earnings-growth ratio of 2.19 and a beta of 0.22.

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

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 22nd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 22nd. Elbit Systems’s dividend payout ratio is 22.87%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Elbit Systems by 4.8% in the third quarter. Vanguard Group Inc. now owns 984,861 shares of the aerospace company’s stock worth $501,042,000 after purchasing an additional 45,073 shares during the period. Van ECK Associates Corp lifted its stake in shares of Elbit Systems by 3,162.0% in the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after acquiring an additional 628,236 shares during the period. Y.D. More Investments Ltd boosted its holdings in shares of Elbit Systems by 35.1% in the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after acquiring an additional 158,689 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elbit Systems by 2.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after acquiring an additional 12,003 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its stake in shares of Elbit Systems by 27.7% during the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after acquiring an additional 82,103 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

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.