Bank of America Issues Positive Forecast for Elbit Systems (NASDAQ:ESLT) Stock Price

Elbit Systems (NASDAQ:ESLT) had its price objective upped by Bank of America from $500.00 to $540.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Separately, Wall Street Zen lowered shares of Elbit Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $540.00.

Elbit Systems Stock Up 6.9%

Elbit Systems stock opened at $490.19 on Tuesday. Elbit Systems has a 1-year low of $188.53 and a 1-year high of $494.32. The firm has a market capitalization of $21.79 billion, a price-to-earnings ratio of 55.64, a P/E/G ratio of 1.79 and a beta of 0.33. 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 has a 50 day simple moving average of $450.37 and a 200 day simple moving average of $403.62.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the business earned $2.08 EPS. On average, analysts predict that Elbit Systems will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio is currently 22.70%.

Institutional Investors Weigh In On Elbit Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. bought a new position in Elbit Systems in the second quarter worth approximately $11,687,000. Public Sector Pension Investment Board raised its position in shares of Elbit Systems by 0.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company’s stock valued at $6,460,000 after purchasing an additional 48 shares during the period. Duquesne Family Office LLC bought a new stake in shares of Elbit Systems during the 2nd quarter valued at $8,220,000. Corient Private Wealth LLC raised its position in shares of Elbit Systems by 22.6% during the 2nd quarter. Corient Private Wealth LLC now owns 3,295 shares of the aerospace company’s stock valued at $1,481,000 after purchasing an additional 608 shares during the period. Finally, HRT Financial LP raised its position in shares of Elbit Systems by 220.6% during the 2nd quarter. HRT Financial LP now owns 3,921 shares of the aerospace company’s stock valued at $1,762,000 after purchasing an additional 2,698 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Company Profile

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.