Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Up 130.9% in June

Elbit Systems Ltd. (NASDAQ:ESLT) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 239,691 shares, a growth of 130.9% from the May 31st total of 103,811 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 94,507 shares, the days-to-cover ratio is presently 2.5 days.

Elbit Systems Stock Up 2.4%

Shares of Elbit Systems stock traded up $16.94 during trading on Monday, reaching $732.66. The company had a trading volume of 122,211 shares, compared to its average volume of 145,650. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. Elbit Systems has a fifty-two week low of $422.84 and a fifty-two week high of $1,016.06. The firm’s fifty day moving average is $815.80 and its 200-day moving average is $768.49. The company has a market cap of $32.57 billion, a price-to-earnings ratio of 59.32, a price-to-earnings-growth ratio of 3.04 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. On average, analysts anticipate that Elbit Systems will post 15.3 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio (DPR) is currently 26.96%.

Insider Activity at Elbit Systems

In related news, CEO Bezhalel Machlis sold 25,514 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $22,641,123.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Yoram Shmuely sold 7,654 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 transaction of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,736 shares of company stock worth $61,883,726 in the last three months. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Elbit Systems

Institutional investors have recently made changes to their positions in the company. CoreCap Advisors LLC bought a new position in Elbit Systems during the fourth quarter worth $26,000. WPG Advisers LLC acquired a new position in Elbit Systems in the first quarter worth $26,000. Optiver Holding B.V. bought a new stake in Elbit Systems during the first quarter valued at $46,000. Wexford Capital LP bought a new stake in Elbit Systems during the third quarter valued at $63,000. Finally, Leonteq Securities AG acquired a new stake in shares of Elbit Systems during the 4th quarter worth approximately $68,000. 17.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Elbit Systems has an average rating of “Hold” and an average price target of $725.25.

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.