Short Interest in Elbit Systems Ltd. (NASDAQ:ESLT) Decreases By 24.7%

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 140,500 shares, a decrease of 24.7% from the March 15th total of 186,600 shares. Based on an average daily trading volume, of 64,900 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.6% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESLT. Hurley Capital LLC bought a new stake in shares of Elbit Systems in the 4th quarter worth approximately $26,000. Prestige Wealth Management Group LLC raised its stake in shares of Elbit Systems by 150.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after buying an additional 75 shares during the period. Sierra Ocean LLC purchased a new position in shares of Elbit Systems during the 4th quarter valued at $41,000. Smartleaf Asset Management LLC grew its stake in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock worth $41,000 after acquiring an additional 106 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in Elbit Systems in the 3rd quarter worth about $40,000. 17.88% of the stock is owned by institutional investors.

Elbit Systems Trading Up 0.6 %

Elbit Systems stock traded up $2.29 during trading hours on Thursday, reaching $378.29. 67,246 shares of the company's stock were exchanged, compared to its average volume of 39,721. Elbit Systems has a twelve month low of $175.30 and a twelve month high of $420.00. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The firm's 50 day simple moving average is $365.87 and its 200 day simple moving average is $294.18. The firm has a market capitalization of $16.82 billion, a PE ratio of 64.67 and a beta of 0.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. Research analysts predict that Elbit Systems will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be given a $0.60 dividend. This is a positive change from Elbit Systems's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 annualized dividend and a yield of 0.63%. Elbit Systems's payout ratio is currently 27.72%.

Elbit Systems Company Profile

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.