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 during trading on Monday . The company traded as high as $225.79 and last traded at $225.25, with a volume of 5870 shares changing hands. The stock had previously closed at $210.33.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th.

Elbit Systems Trading Up 0.2 %

The stock has a market cap of $10.11 billion, a PE ratio of 41.82 and a beta of 0.53. The business has a 50-day moving average of $202.82 and a 200 day moving average of $195.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $1.57 EPS. Equities research analysts predict that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, October 15th. Elbit Systems’s payout ratio is 30.51%.

Institutional Trading of Elbit Systems

A number of hedge funds have recently added to or reduced their stakes in ESLT. Y.D. More Investments Ltd boosted its stake in Elbit Systems by 32,724.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after buying an additional 402,512 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in shares of Elbit Systems by 41.3% in the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after purchasing an additional 98,440 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Elbit Systems by 253.0% in the 2nd quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Elbit Systems in the 1st quarter valued at about $3,888,000. Finally, Altshuler Shaham Ltd lifted its stake in shares of Elbit Systems by 2.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after purchasing an additional 18,014 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

About Elbit Systems

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.