Elbit Systems (NASDAQ:ESLT) Hits New 52-Week High After Analyst Upgrade

Key Points

• Elbit Systems Ltd. shares reached a new 52-week high after a price target upgrade from Bank of America, raising it from $500.00 to $540.00 with a current buy rating.
• The company's quarterly earnings exceeded expectations, reporting $3.23 EPS and revenue of $1.97 billion, compared to previous estimates of $2.57 EPS and $1.89 billion in revenue.
• Elbit Systems announced an increase in its quarterly dividend from $0.60 to $0.75 per share, with a yield of 0.6% and a payout ratio of 22.70%.

Shares of Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $500.00 to $540.00. Bank of America currently has a buy rating on the stock. Elbit Systems traded as high as $501.99 and last traded at $496.50, with a volume of 3781 shares traded. The stock had previously closed at $490.19.

Separately, Wall Street Zen lowered shares of Elbit Systems from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Elbit Systems presently has a consensus rating of "Buy" and a consensus target price of $540.00.

Institutional Trading of Elbit Systems

Several institutional investors have recently added to or reduced their stakes in ESLT. Activest Wealth Management acquired a new position in shares of Elbit Systems in the second quarter worth $28,000. Larson Financial Group LLC acquired a new position in shares of Elbit Systems in the first quarter worth $29,000. Traub Capital Management LLC acquired a new position in shares of Elbit Systems in the second quarter worth $31,000. SBI Securities Co. Ltd. grew its stake in shares of Elbit Systems by 232.6% in the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after acquiring an additional 107 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in shares of Elbit Systems in the second quarter worth $68,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Trading Up 0.8%

The company's 50 day simple moving average is $450.37 and its 200 day simple moving average is $403.62. The firm has a market cap of $21.96 billion, a price-to-earnings ratio of 56.20, a P/E/G ratio of 1.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.57 by $0.66. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, research analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. Elbit Systems's payout ratio is presently 22.70%.

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.

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