Elbit Systems (NASDAQ:ESLT) Announces Earnings Results, Beats Estimates By $0.54 EPS

Elbit Systems (NASDAQ:ESLT) released its quarterly earnings results on Tuesday. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.54, FiscalAI reports. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $767.82 on Tuesday. Elbit Systems has a 12-month low of $373.17 and a 12-month high of $1,016.06. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $857.38 and its 200 day moving average is $710.31. The stock has a market capitalization of $34.13 billion, a P/E ratio of 67.59, a P/E/G ratio of 3.22 and a beta of 0.14.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 13th were issued a $1.00 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, April 13th. Elbit Systems’s dividend payout ratio is 29.31%.

Insider Buying and Selling

In related news, EVP Haim Daniel Delmar sold 7,654 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Oren Yaacov Sabag sold 8,504 shares of Elbit Systems stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $7,546,449.60. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,736 shares of company stock valued at $61,883,726 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

Several institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its stake in shares of Elbit Systems by 3.3% during the fourth quarter. Corient Private Wealth LLC now owns 3,672 shares of the aerospace company’s stock valued at $2,121,000 after purchasing an additional 117 shares during the period. Vident Advisory LLC grew its position in Elbit Systems by 13.8% during the fourth quarter. Vident Advisory LLC now owns 2,080 shares of the aerospace company’s stock valued at $1,202,000 after buying an additional 253 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Elbit Systems during the fourth quarter valued at $5,615,000. XTX Topco Ltd acquired a new stake in Elbit Systems during the fourth quarter valued at $409,000. Finally, Quadrature Capital Ltd grew its position in Elbit Systems by 129.6% during the fourth quarter. Quadrature Capital Ltd now owns 38,121 shares of the aerospace company’s stock valued at $22,023,000 after buying an additional 21,515 shares during the period. Institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

ESLT has been the topic of several research reports. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. raised their target price on shares of Elbit Systems from $580.00 to $930.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $667.00.

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.