Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Update

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 149,669 shares, a decline of 40.0% from the July 30th total of 249,525 shares. Based on an average trading volume of 87,190 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.3% of the shares of the company are sold short.

Elbit Systems Price Performance

Shares of ESLT traded up $8.19 during mid-day trading on Tuesday, reaching $708.70. 87,178 shares of the stock traded hands, compared to its average volume of 128,367. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.17. Elbit Systems has a 1 year low of $453.00 and a 1 year high of $1,016.06. The firm has a fifty day moving average price of $773.67 and a 200 day moving average price of $813.44. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.04.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.45. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%.The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. As a group, equities research analysts predict that Elbit Systems will post 15.61 earnings per share for the current year.

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, October 13th. Elbit Systems’s dividend payout ratio (DPR) is 25.09%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in Elbit Systems by 34.4% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock valued at $893,941,000 after purchasing an additional 397,049 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Elbit Systems in the 3rd quarter worth approximately $172,673,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Elbit Systems by 206.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock worth $228,914,000 after buying an additional 181,524 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Elbit Systems in the 1st quarter worth $128,135,000. Finally, Bank of America Corp DE raised its position in shares of Elbit Systems by 125.0% during the 3rd quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock valued at $84,848,000 after buying an additional 92,449 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. dropped their price objective on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a report on Wednesday, August 19th. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 24th. Jefferies Financial Group decreased their price target on Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research report on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Elbit Systems currently has an average rating of “Hold” and an average target price of $870.00.

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.