Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Update

Key Points

• Short interest rose 28.6% in April to 269,238 shares (~0.6% of shares) with a days-to-cover ratio of 2.2, indicating increased bearish positioning.
• Top insiders sold sizable stakes on April 9 — EVP Oren Yaacov Sabag sold 8,504 shares (~$7.55M) and CEO Bezhalel Machlis sold 25,514 shares (~$22.64M); insiders sold 69,736 shares worth $61.88M in the past 90 days (insider ownership 0.84%).
• Elbit beat the quarter (EPS $3.56 vs. $3.23; revenue $2.15B vs. $2.09B) and raised its quarterly dividend to $1.00 (from $0.75), annualized $4.00 for a 0.5% yield.

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 269,238 shares, a growth of 28.6% from the March 31st total of 209,380 shares. Based on an average daily trading volume, of 119,802 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Elbit Systems from $580.00 to $930.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, January 17th. Finally, Zacks Research raised shares of Elbit Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $667.00.

Insider Activity at Elbit Systems

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $7,546,449.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bezhalel Machlis sold 25,514 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $22,641,123.60. The SEC filing for this sale provides additional information. Insiders sold a total of 69,736 shares of company stock worth $61,883,726 in the last ninety days. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in ESLT. CoreCap Advisors LLC acquired a new stake in Elbit Systems in the 4th quarter valued at $26,000. Financial Consulate Inc. acquired a new stake in Elbit Systems in the 3rd quarter valued at $60,000. Leonteq Securities AG acquired a new stake in Elbit Systems in the 4th quarter valued at $68,000. Hilton Head Capital Partners LLC acquired a new stake in Elbit Systems in the 4th quarter valued at $69,000. Finally, Wexford Capital LP acquired a new stake in Elbit Systems in the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT traded down $14.55 during midday trading on Wednesday, reaching $819.50. 108,532 shares of the stock were exchanged, compared to its average volume of 160,112. The firm has a market cap of $36.43 billion, a price-to-earnings ratio of 72.14, a PEG ratio of 3.44 and a beta of 0.16. Elbit Systems has a twelve month low of $369.60 and a twelve month high of $1,016.06. The firm has a 50-day simple moving average of $865.91 and a two-hundred day simple moving average of $674.12. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 17th. The aerospace company reported $3.56 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.33. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.09 billion. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. As a group, analysts anticipate that Elbit Systems will post 15.47 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.75. Elbit Systems's dividend payout ratio is 29.23%.

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.

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