Elbit Systems (NASDAQ:ESLT) Reaches New 1-Year High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $663.05 and last traded at $657.91, with a volume of 164500 shares trading hands. The stock had previously closed at $640.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ESLT shares. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Morgan Stanley began coverage on Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target for the company. Finally, Wall Street Zen lowered shares of Elbit Systems from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $550.33.

Elbit Systems Stock Performance

The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The firm has a market cap of $30.38 billion, a price-to-earnings ratio of 69.45, a price-to-earnings-growth ratio of 2.05 and a beta of 0.22. The stock has a fifty day moving average price of $523.15 and a 200 day moving average price of $490.67.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 22nd were paid a $0.75 dividend. The ex-dividend date was Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 0.4%. Elbit Systems’s dividend payout ratio (DPR) is presently 22.87%.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Elbit Systems by 98.9% during the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after purchasing an additional 1,225 shares during the last quarter. AQR Capital Management LLC bought a new position in Elbit Systems in the 1st quarter worth approximately $353,000. NewEdge Advisors LLC lifted its holdings in shares of Elbit Systems by 3,461.1% during the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after buying an additional 623 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Elbit Systems by 25,436.8% in the first quarter. Jones Financial Companies Lllp now owns 4,852 shares of the aerospace company’s stock valued at $1,862,000 after acquiring an additional 4,833 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Elbit Systems by 33.7% in the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after acquiring an additional 34,049 shares during the period. 17.88% of the stock is currently owned by institutional investors.

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.