Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT) shares reached a new 52-week high on Monday . The company traded as high as $288.00 and last traded at $288.00, with a volume of 2603 shares trading hands. The stock had previously closed at $280.72.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The company has a market capitalization of $12.98 billion, a P/E ratio of 49.92 and a beta of 0.52. The business’s fifty day simple moving average is $252.58 and its 200-day simple moving average is $216.78.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were issued a $0.50 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, December 23rd. Elbit Systems’s payout ratio is currently 28.38%.

Institutional Trading of Elbit Systems

A number of institutional investors and hedge funds have recently bought and sold shares of ESLT. Renaissance Technologies LLC increased its holdings in Elbit Systems by 35.3% in the 2nd quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock valued at $3,727,000 after acquiring an additional 5,500 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Elbit Systems in the 2nd quarter valued at $466,000. Altshuler Shaham Ltd increased its holdings in Elbit Systems by 2.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after acquiring an additional 18,014 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Elbit Systems by 5.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,211 shares of the aerospace company’s stock worth $1,960,000 after buying an additional 623 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Elbit Systems by 3.5% in the 2nd quarter. Bank of Montreal Can now owns 10,182 shares of the aerospace company’s stock worth $1,798,000 after buying an additional 347 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.