Elbit Systems (NASDAQ:ESLT) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems (NASDAQ:ESLT) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $520.00 target price on the aerospace company’s stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Bank of America upped their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Elbit Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.00.

Elbit Systems Price Performance

Shares of ESLT opened at $509.80 on Tuesday. Elbit Systems has a fifty-two week low of $197.95 and a fifty-two week high of $511.12. The firm’s 50 day moving average price is $476.68 and its 200 day moving average price is $433.30. The company has a market cap of $22.66 billion, a P/E ratio of 57.87, a PEG ratio of 1.77 and a beta of 0.37. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06.

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

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This is an increase 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 payout ratio is presently 22.70%.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently modified their holdings of ESLT. Activest Wealth Management acquired a new position in shares of Elbit Systems during the second quarter worth $28,000. Larson Financial Group LLC purchased a new position in shares of Elbit Systems in the 1st quarter valued at $29,000. Traub Capital Management LLC purchased a new position in shares of Elbit Systems in the 2nd quarter valued at $31,000. SBI Securities Co. Ltd. grew its position in shares of Elbit Systems by 232.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock valued at $59,000 after buying an additional 107 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of Elbit Systems in the 2nd quarter valued at $68,000. Institutional investors and hedge funds 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.