Elbit Systems (NASDAQ:ESLT) Hits New 12-Month High – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $547.14 and last traded at $545.9290, with a volume of 48127 shares changing hands. The stock had previously closed at $523.08.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley assumed coverage on Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Elbit Systems in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 target price for the company. Wall Street Zen downgraded shares of Elbit Systems from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Elbit Systems in a research report on Monday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $530.33.

Elbit Systems Stock Up 0.4%

The firm has a 50-day moving average price of $487.15 and a two-hundred day moving average price of $471.76. The company has a market capitalization of $24.06 billion, a P/E ratio of 55.00, a PEG ratio of 1.87 and a beta of 0.24. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.75 by $0.60. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. Equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. Elbit Systems’s dividend payout ratio (DPR) is 22.87%.

Hedge Funds Weigh In On Elbit Systems

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Elbit Systems by 23.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,889 shares of the aerospace company’s stock worth $1,492,000 after buying an additional 749 shares in the last quarter. Korea Investment CORP boosted its position in shares of Elbit Systems by 88.5% during the 1st quarter. Korea Investment CORP now owns 15,238 shares of the aerospace company’s stock valued at $5,826,000 after acquiring an additional 7,155 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Elbit Systems during the 1st quarter valued at about $794,000. Hsbc Holdings PLC increased its stake in Elbit Systems by 40.4% in the first quarter. Hsbc Holdings PLC now owns 11,169 shares of the aerospace company’s stock valued at $4,260,000 after acquiring an additional 3,213 shares during the period. Finally, SVB Wealth LLC acquired a new position in Elbit Systems in the first quarter worth about $77,000. Institutional investors and hedge funds 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.