Elbit Systems Ltd. (NASDAQ:ESLT) Sees Significant Increase in Short Interest

Elbit Systems Ltd. (NASDAQ:ESLT) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 123,363 shares, a growth of 29.0% from the November 30th total of 95,594 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 90,502 shares, the short-interest ratio is presently 1.4 days. Based on an average trading volume of 90,502 shares, the short-interest ratio is presently 1.4 days. Currently, 0.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Elbit Systems

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

Elbit Systems Price Performance

ESLT opened at $579.00 on Wednesday. Elbit Systems has a one year low of $258.07 and a one year high of $586.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76. The company’s 50 day simple moving average is $499.45 and its 200-day simple moving average is $480.85. The stock has a market capitalization of $25.74 billion, a P/E ratio of 58.84, a price-to-earnings-growth ratio of 2.00 and a beta of 0.24.

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

Elbit Systems Dividend Announcement

The firm also recently announced 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 is Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 0.5%. Elbit Systems’s dividend payout ratio is presently 22.87%.

Analysts Set New Price Targets

ESLT has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Elbit Systems in a research report on Monday. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Morgan Stanley initiated coverage on shares of Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price for the company. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $550.33.

Elbit Systems Company Profile

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.