Elbit Systems (NASDAQ:ESLT) Upgraded at Zacks Research

Zacks Research upgraded shares of Elbit Systems (NASDAQ:ESLT) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Elbit Systems in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on shares of Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price for the company. Bank of America increased their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Elbit Systems currently has an average rating of “Moderate Buy” and an average target price of $530.00.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $491.65 on Tuesday. The firm has a market cap of $21.85 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.33. The firm’s 50-day simple moving average is $487.80 and its 200-day simple moving average is $442.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. Elbit Systems has a 1 year low of $207.71 and a 1 year high of $529.99.

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 analysts’ consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the firm earned $2.08 earnings per share. Equities 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. Shareholders of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s dividend payout ratio (DPR) is presently 28.38%.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently made changes to their positions in ESLT. Y.D. More Investments Ltd raised its stake in Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after acquiring an additional 158,689 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Elbit Systems by 226.6% in 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 in the last quarter. Arrowstreet Capital Limited Partnership increased 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 valued at $210,967,000 after purchasing an additional 101,083 shares during the period. Meitav Investment House Ltd. raised its stake 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 valued at $168,600,000 after purchasing an additional 82,103 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $78,084,000 after purchasing an additional 74,754 shares in the last quarter. 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.