Elbit Systems (NASDAQ:ESLT) Sees Strong Trading Volume - Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 29,624 shares changed hands during mid-day trading, a decline of 29% from the previous session's volume of 41,672 shares.The stock last traded at $410.11 and had previously closed at $406.69.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Elbit Systems Stock Up 0.7 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The business has a 50 day simple moving average of $378.92 and a 200-day simple moving average of $304.32. The firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of 70.09 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. On average, equities analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Elbit Systems's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.59%. Elbit Systems's dividend payout ratio is 27.72%.

Hedge Funds Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hurley Capital LLC purchased a new position in Elbit Systems in the fourth quarter worth approximately $26,000. Larson Financial Group LLC purchased a new stake in shares of Elbit Systems during the 1st quarter worth $29,000. Prestige Wealth Management Group LLC grew its stake in shares of Elbit Systems by 150.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Elbit Systems by 196.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after buying an additional 106 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Elbit Systems in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

About Elbit Systems

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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