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

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $395.93, but opened at $375.00. Elbit Systems shares last traded at $374.15, with a volume of 180,750 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Elbit Systems Stock Performance

The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $17.04 billion, a P/E ratio of 65.52 and a beta of 0.31. The stock has a fifty day moving average of $392.82 and a 200-day moving average of $323.65.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same period last year, the company earned $1.81 earnings per share. On average, research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be paid a $0.60 dividend. The ex-dividend date 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 is 25.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI grew its stake in Elbit Systems by 8.6% in the first quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock valued at $151,000 after purchasing an additional 31 shares in the last quarter. Townsquare Capital LLC grew its stake in Elbit Systems by 5.3% in the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company's stock valued at $337,000 after purchasing an additional 44 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Elbit Systems by 3.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock valued at $575,000 after purchasing an additional 55 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in Elbit Systems by 2.9% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock valued at $540,000 after purchasing an additional 60 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Elbit Systems by 7.3% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the aerospace company's stock valued at $255,000 after buying an additional 67 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.