Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High - Here's Why

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $433.18 and last traded at $431.48, with a volume of 127129 shares traded. The stock had previously closed at $429.71.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th.

Elbit Systems Stock Up 5.4%

The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average is $399.01 and its two-hundred day moving average is $337.92. The company has a market capitalization of $20.22 billion, a PE ratio of 77.76 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.27. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. As a group, analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a yield of 0.53%. Elbit Systems's dividend payout ratio (DPR) is 25.25%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ESLT. National Bank of Canada FI boosted its position in shares of Elbit Systems by 8.6% during the first quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock valued at $151,000 after buying an additional 31 shares during the period. Townsquare Capital LLC lifted its holdings in Elbit Systems by 5.3% in the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company's stock valued at $337,000 after acquiring an additional 44 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Elbit Systems by 3.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock worth $575,000 after purchasing an additional 55 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its stake in Elbit Systems by 2.9% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock valued at $540,000 after buying an additional 60 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Elbit Systems by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company's stock worth $1,031,000 after buying an additional 69 shares during the last quarter. Institutional investors own 17.88% of the company's stock.

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.