Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $262.29, but opened at $256.31. Elbit Systems shares last traded at $255.70, with a volume of 5,535 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th.

Elbit Systems Stock Performance

The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 43.99 and a beta of 0.52. The firm’s 50 day moving average is $242.06 and its 200-day moving average is $209.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.50 per share. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.78%. Elbit Systems’s dividend payout ratio is currently 28.38%.

Institutional Investors Weigh In On Elbit Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESLT. Altshuler Shaham Ltd raised its position in shares of Elbit Systems by 2.0% in the second 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 during the period. Y.D. More Investments Ltd raised its holdings 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 acquiring an additional 402,512 shares during the period. Meitav Investment House Ltd. lifted its position in Elbit Systems by 41.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after acquiring an additional 98,440 shares during the last quarter. Heard Capital LLC boosted its holdings in Elbit Systems by 4.8% during the third quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after acquiring an additional 10,070 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Elbit Systems by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after purchasing an additional 18,614 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Company Profile

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.