Elbit Systems (NASDAQ:ESLT) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Elbit Systems (NASDAQ:ESLT - Get Free Report) posted its quarterly earnings data on Tuesday. The aerospace company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27, RTT News reports. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. During the same quarter in the prior year, the company posted $1.81 earnings per share.

Elbit Systems Price Performance

NASDAQ ESLT traded up $2.40 on Friday, reaching $378.93. 278,305 shares of the stock traded hands, compared to its average volume of 49,898. Elbit Systems has a 12 month low of $175.30 and a 12 month high of $426.40. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 64.77 and a beta of 0.31. The firm's fifty day simple moving average is $393.45 and its 200 day simple moving average is $321.96. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be given a $0.60 dividend. 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 0.63%. Elbit Systems's dividend payout ratio (DPR) is 25.25%.

Analysts Set New Price Targets

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

Institutional Trading of Elbit Systems

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in Elbit Systems by 3,461.1% in the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company's stock worth $246,000 after acquiring an additional 623 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Elbit Systems during the 1st quarter valued at about $353,000. Royal Bank of Canada grew its stake in shares of Elbit Systems by 98.9% in the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company's stock worth $946,000 after purchasing an additional 1,225 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Elbit Systems by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company's stock worth $6,339,000 after purchasing an additional 1,191 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Elbit Systems by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company's stock valued at $51,837,000 after purchasing an additional 34,049 shares during the last quarter. Institutional investors and hedge funds 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.