Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $573.32 and last traded at $572.99, with a volume of 113836 shares. The stock had previously closed at $554.25.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ESLT shares. Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Morgan Stanley started coverage on Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Elbit Systems in a research report on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Finally, Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $550.33.

Elbit Systems Stock Performance

The company has a market cap of $25.90 billion, a P/E ratio of 59.23, a price-to-earnings-growth ratio of 2.01 and a beta of 0.24. The business has a 50 day moving average price of $492.18 and a two-hundred day moving average price of $476.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.00 annualized dividend and a yield of 0.5%. Elbit Systems’s dividend payout ratio is presently 22.87%.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently modified their holdings of ESLT. USA Financial Formulas purchased a new stake in shares of Elbit Systems during the third quarter worth about $26,000. Activest Wealth Management purchased a new stake in Elbit Systems in the 2nd quarter worth approximately $28,000. Traub Capital Management LLC purchased a new stake in Elbit Systems in the 2nd quarter worth approximately $31,000. Financial Consulate Inc. bought a new stake in shares of Elbit Systems in the 3rd quarter worth approximately $60,000. Finally, Wexford Capital LP purchased a new position in shares of Elbit Systems during the third quarter valued at approximately $63,000. 17.88% of the stock is owned by institutional investors.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.