Elbit Systems (NASDAQ:ESLT) Sets New 12-Month High Following Analyst Upgrade

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price hit a new 52-week high during trading on Wednesday after Bank of America raised their price target on the stock from $500.00 to $540.00. Bank of America currently has a buy rating on the stock. Elbit Systems traded as high as $501.99 and last traded at $496.50, with a volume of 3781 shares changing hands. The stock had previously closed at $490.19.

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

Institutional Trading of Elbit Systems

Several institutional investors have recently made changes to their positions in ESLT. Y.D. More Investments Ltd boosted its holdings in shares of Elbit Systems by 35.1% during the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after purchasing an additional 158,689 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after purchasing an additional 134,300 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elbit Systems by 27.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock worth $210,967,000 after purchasing an additional 101,083 shares during the period. Meitav Investment House Ltd. boosted its holdings 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 worth $168,600,000 after purchasing an additional 82,103 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Elbit Systems by 74.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company’s stock worth $78,084,000 after purchasing an additional 74,754 shares during the period. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 55.21, a PEG ratio of 1.85 and a beta of 0.33. The firm’s fifty day moving average is $451.33 and its 200 day moving average is $404.19.

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

Elbit Systems Increases Dividend

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

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.