Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High - What's Next?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $427.60 and last traded at $419.53, with a volume of 62945 shares. The stock had previously closed at $416.13.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Performance

The business's fifty day moving average price is $394.06 and its 200-day moving average price is $330.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The stock has a market capitalization of $18.67 billion, a PE ratio of 71.78 and a beta of 0.31.

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

Elbit Systems Announces Dividend

The firm also recently announced 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. This represents a $2.40 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems's payout ratio is 25.25%.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Elbit Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company's stock worth $229,268,000 after purchasing an additional 10,215 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Elbit Systems by 44.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company's stock valued at $810,000 after purchasing an additional 961 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Elbit Systems in the 4th quarter worth approximately $1,999,000. Bank of New York Mellon Corp increased its holdings in shares of Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company's stock worth $11,817,000 after buying an additional 2,317 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock worth $87,294,000 after buying an additional 39,095 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.