Elbit Systems (NASDAQ:ESLT) Sets New 52-Week High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT) shares hit a new 52-week high on Wednesday . The stock traded as high as $739.02 and last traded at $735.1740, with a volume of 1630 shares. The stock had previously closed at $729.88.

Wall Street Analysts Forecast Growth

ESLT has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Morgan Stanley initiated coverage on Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective for the company. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, JPMorgan Chase & Co. increased their price target on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $550.33.

Elbit Systems Trading Down 2.7%

The stock’s fifty day moving average price is $590.27 and its two-hundred day moving average price is $517.86. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $31.23 billion, a PE ratio of 71.40, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22.

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

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, December 22nd. Elbit Systems’s payout ratio is currently 22.87%.

Institutional Trading of Elbit Systems

Several hedge funds and other institutional investors have recently bought and sold shares of ESLT. Assetmark Inc. boosted its position in shares of Elbit Systems by 11.2% during the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after buying an additional 21 shares during the period. SteelPeak Wealth LLC boosted its stake in shares of Elbit Systems by 1.1% during the third quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock valued at $950,000 after purchasing an additional 21 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Elbit Systems by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock worth $608,000 after purchasing an additional 29 shares during the last quarter. Greenleaf Trust increased its stake in Elbit Systems by 7.1% in the 4th quarter. Greenleaf Trust now owns 466 shares of the aerospace company’s stock worth $269,000 after buying an additional 31 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in Elbit Systems by 20.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after buying an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

About Elbit Systems

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.