Elbit Systems (NASDAQ:ESLT) Sets New 12-Month High - Here's What Happened

Key Points

• Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high of $511.12 during trading, closing at $509.80 with a volume of over 131,000 shares.
• Analysts have given the stock an average rating of "Moderate Buy" with a consensus target price of $530.00, following several upgrades and changes in ratings from prominent firms.
• The company announced a dividend increase from $0.60 to $0.75 per share, set to be paid on October 27, reflecting a modest annual yield of 0.6%.

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $511.12 and last traded at $509.80, with a volume of 131082 shares changing hands. The stock had previously closed at $497.85.

Analyst Ratings Changes

ESLT has been the topic of several research analyst reports. Bank of America boosted their price objective on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a research report on Tuesday. They issued a "neutral" rating and a $520.00 price objective on the stock. Finally, Wall Street Zen upgraded Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $530.00.

Elbit Systems Stock Up 2.4%

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The company has a market capitalization of $22.66 billion, a PE ratio of 57.87, a P/E/G ratio of 1.75 and a beta of 0.37. The business has a 50-day moving average of $475.22 and a 200 day moving average of $432.77.

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

Elbit Systems Increases Dividend

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

Institutional Investors Weigh In On Elbit Systems

Several large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its stake in shares of Elbit Systems by 22.6% during the second quarter. Corient Private Wealth LLC now owns 3,294 shares of the aerospace company's stock valued at $1,481,000 after buying an additional 607 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Elbit Systems by 48.4% during the second quarter. Osaic Holdings Inc. now owns 1,574 shares of the aerospace company's stock valued at $705,000 after buying an additional 513 shares during the last quarter. Nomura Holdings Inc. bought a new position in shares of Elbit Systems during the second quarter valued at approximately $11,687,000. Public Sector Pension Investment Board grew its stake in shares of Elbit Systems by 0.3% during the second quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company's stock valued at $6,460,000 after buying an additional 48 shares during the last quarter. Finally, Duquesne Family Office LLC bought a new position in shares of Elbit Systems during the second quarter valued at approximately $8,220,000. 17.88% of the stock is 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.

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