Elbit Systems (NASDAQ:ESLT) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Elbit Systems (NASDAQ:ESLT) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued a neutral rating and a $520.00 target price on the aerospace company’s stock.

Several other brokerages also recently issued reports on ESLT. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $530.00.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $508.02 on Tuesday. The stock has a market cap of $22.58 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 1.80 and a beta of 0.33. The stock has a 50-day moving average of $479.01 and a 200-day moving average of $434.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. Elbit Systems has a one year low of $200.55 and a one year high of $514.48.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.66. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the prior year, the business earned $2.08 EPS. As a group, sell-side analysts expect that Elbit Systems will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s dividend payout ratio (DPR) is currently 22.70%.

Institutional Trading of Elbit Systems

Several institutional investors and hedge funds have recently bought and sold shares of ESLT. Squarepoint Ops LLC boosted its position in Elbit Systems by 105.8% during the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock valued at $209,000 after purchasing an additional 14,796 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Elbit Systems by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock worth $1,031,000 after buying an additional 69 shares during the last quarter. Mackenzie Financial Corp raised its position in Elbit Systems by 16.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the aerospace company’s stock worth $455,000 after acquiring an additional 251 shares in the last quarter. GAMMA Investing LLC raised its position in Elbit Systems by 38,268.4% during the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company’s stock worth $2,797,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Yousif Capital Management LLC acquired a new stake in Elbit Systems in the first quarter valued at $262,000. Institutional investors own 17.88% of the company’s stock.

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.