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

Elbit Systems Ltd. (NASDAQ:ESLT) shares hit a new 52-week high on Tuesday . The stock traded as high as $235.18 and last traded at $235.18, with a volume of 1823 shares. The stock had previously closed at $228.55.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th.

Elbit Systems Stock Performance

The stock has a market capitalization of $10.35 billion, a PE ratio of 42.80 and a beta of 0.51. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $206.52 and a 200-day moving average of $196.40.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.31. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $1.57 EPS. Equities analysts anticipate that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.416 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.66 annualized dividend and a dividend yield of 0.71%. Elbit Systems’s dividend payout ratio (DPR) is currently 30.51%.

Hedge Funds Weigh In On Elbit Systems

Several large investors have recently bought and sold shares of ESLT. Blue Trust Inc. lifted its holdings in Elbit Systems by 368.6% during the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after buying an additional 129 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of Elbit Systems during the 3rd quarter worth about $34,000. Point72 DIFC Ltd acquired a new stake in shares of Elbit Systems during the 2nd quarter worth about $35,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 84 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Elbit Systems in the second quarter valued at approximately $143,000. Hedge funds and other 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.