Elbit Systems (NASDAQ:ESLT) Shares Gap Down - Time to Sell?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $384.50, but opened at $374.12. Elbit Systems shares last traded at $372.55, with a volume of 17,239 shares.

Analysts Set New Price Targets

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

Elbit Systems Stock Up 0.3 %

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 business's 50 day moving average price is $369.13 and its 200 day moving average price is $297.14. The firm has a market cap of $16.87 billion, a PE ratio of 64.88 and a beta of 0.32.

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

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. This is a boost from Elbit Systems's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, April 22nd. Elbit Systems's dividend payout ratio (DPR) is presently 27.72%.

Hedge Funds Weigh In On Elbit Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Morse Asset Management Inc acquired a new position in Elbit Systems in the third quarter valued at approximately $40,000. State Street Corp lifted its stake in shares of Elbit Systems by 3.1% in the 3rd quarter. State Street Corp now owns 4,534 shares of the aerospace company's stock valued at $907,000 after purchasing an additional 136 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Elbit Systems by 84.6% during the 3rd quarter. Jane Street Group LLC now owns 4,162 shares of the aerospace company's stock worth $833,000 after purchasing an additional 1,907 shares during the period. Geode Capital Management LLC increased its position in shares of Elbit Systems by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 38,426 shares of the aerospace company's stock worth $7,689,000 after purchasing an additional 175 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Elbit Systems in the 3rd quarter valued at about $63,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.