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 note released on Monday,Zacks.com reports.

A number of other research analysts also recently weighed in on ESLT. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $667.00.

Elbit Systems Stock Down 2.4%

Elbit Systems stock opened at $899.00 on Monday. The company has a market capitalization of $39.96 billion, a P/E ratio of 79.14, a P/E/G ratio of 3.86 and a beta of 0.16. The firm’s fifty day simple moving average is $833.90 and its 200-day simple moving average is $651.46. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Elbit Systems has a 1-year low of $369.00 and a 1-year high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.33. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.09 billion. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. Sell-side analysts forecast that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 13th will be given a $1.00 dividend. The ex-dividend date is Monday, April 13th. This represents a $4.00 annualized dividend and a yield of 0.4%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.75. Elbit Systems’s dividend payout ratio (DPR) is 29.31%.

Insider Buying and Selling

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $7,546,449.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ran Kril sold 6,803 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,036,982.20. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citizens Financial Group Inc. RI bought a new position in shares of Elbit Systems during the 3rd quarter worth about $730,000. Pinpoint Asset Management Singapore Pte. Ltd. lifted its holdings in shares of Elbit Systems by 296.0% during the 3rd quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock worth $3,553,000 after acquiring an additional 5,210 shares during the period. ARK Investment Management LLC lifted its holdings in shares of Elbit Systems by 11.6% during the 3rd quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock worth $27,309,000 after acquiring an additional 5,550 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Elbit Systems during the 3rd quarter worth about $824,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Elbit Systems by 3,162.0% during the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after acquiring an additional 628,236 shares during the period. 17.88% of the stock is 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.