Elbit Systems (NASDAQ:ESLT) Sees Unusually-High Trading Volume Following Strong Earnings

Elbit Systems Ltd. (NASDAQ:ESLT) shares saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 32,362 shares changed hands during mid-day trading, a decline of 29% from the previous session’s volume of 45,660 shares.The stock last traded at $406.30 and had previously closed at $405.40.

The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.27. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.69 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. During the same period in the prior year, the firm posted $1.81 EPS.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Tuesday, April 22nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.59%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, April 22nd. Elbit Systems’s dividend payout ratio is currently 27.72%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Institutional Investors Weigh In On Elbit Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new stake in Elbit Systems during the 1st quarter valued at approximately $87,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Elbit Systems by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock valued at $6,339,000 after buying an additional 1,191 shares in the last quarter. United Services Automobile Association purchased a new stake in Elbit Systems during the 1st quarter valued at approximately $339,000. Goldman Sachs Group Inc. grew its holdings in Elbit Systems by 33.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after buying an additional 34,049 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Elbit Systems by 25,436.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,852 shares of the aerospace company’s stock valued at $1,862,000 after acquiring an additional 4,833 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Stock Up 0.4%

The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $18.09 billion, a P/E ratio of 69.55 and a beta of 0.31. The business has a 50-day moving average price of $393.33 and a 200 day moving average price of $318.81.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.