Elbit Systems (NASDAQ:ESLT) Sets New 52-Week High - Time to Buy?

Key Points

• Elbit Systems has reached a new 52-week high, trading at $501.67, up from a previous close of $489.25, with significant trading volume.
• Analysts have upgraded their outlook on the company, with Bank of America raising the price target from $500 to $540 and maintaining a "buy" rating.
• The company recently announced an increase in its quarterly dividend from $0.60 to $0.75, with the dividend yield now at 0.6%.

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $500.17 and last traded at $501.67, with a volume of 18418 shares changing hands. The stock had previously closed at $489.25.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen raised Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America raised their price objective on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $540.00.

Elbit Systems Stock Performance

The company has a market cap of $22.34 billion, a PE ratio of 56.94, a PEG ratio of 1.84 and a beta of 0.37. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $459.79 and a 200-day moving average of $416.41.

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

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a $0.75 dividend. 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%. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's payout ratio is presently 28.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd boosted its position in Elbit Systems by 0.3% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company's stock worth $520,189,000 after purchasing an additional 4,248 shares during the last quarter. Vanguard Group Inc. boosted its position in Elbit Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock worth $341,276,000 after purchasing an additional 15,552 shares during the last quarter. Y.D. More Investments Ltd boosted its position in Elbit Systems by 35.1% in the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company's stock worth $271,438,000 after purchasing an additional 158,689 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Elbit Systems by 27.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company's stock worth $210,967,000 after purchasing an additional 101,083 shares during the last quarter. Finally, Meitav Investment House Ltd. boosted its position in Elbit Systems by 27.7% in the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company's stock worth $168,600,000 after purchasing an additional 82,103 shares during the last quarter. Hedge funds and other institutional investors 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.

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