Short Interest in Elbit Systems Ltd. (NASDAQ:ESLT) Increases By 64.0%

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 177,836 shares, a growth of 64.0% from the December 31st total of 108,462 shares. Based on an average daily trading volume, of 150,843 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the shares of the stock are short sold. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 150,843 shares, the days-to-cover ratio is currently 1.2 days.

Elbit Systems Trading Down 2.7%

Elbit Systems stock traded down $19.21 during trading hours on Friday, hitting $702.57. The stock had a trading volume of 111,816 shares, compared to its average volume of 128,764. 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 has a one year low of $294.99 and a one year high of $740.67. The stock has a market cap of $31.23 billion, a price-to-earnings ratio of 71.40, a P/E/G ratio of 2.19 and a beta of 0.22. The business’s 50 day simple moving average is $594.84 and its 200-day simple moving average is $519.58.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.60. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. On average, equities analysts predict that Elbit Systems will post 8.05 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

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

Hedge Funds Weigh In On Elbit Systems

Institutional investors have recently bought and sold shares of the company. Cardinal Capital Management lifted its holdings in Elbit Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 7,889 shares of the aerospace company’s stock worth $4,558,000 after purchasing an additional 20 shares in the last quarter. Assetmark Inc. increased its position in shares of Elbit Systems by 11.2% during the 2nd quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after purchasing an additional 21 shares during the last quarter. SteelPeak Wealth LLC boosted its stake in shares of Elbit Systems by 1.1% in the 3rd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Elbit Systems by 2.5% in the 3rd 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 period. Finally, Greenleaf Trust raised its holdings in Elbit Systems by 7.1% during the 4th quarter. Greenleaf Trust now owns 466 shares of the aerospace company’s stock valued at $269,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ESLT. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a report on Friday, December 19th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Morgan Stanley assumed coverage on Elbit Systems in a research report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective on the stock. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $550.33.

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.