Elbit Systems (NASDAQ:ESLT) Shares Gap Up - Should You Buy?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $422.54, but opened at $439.00. Elbit Systems shares last traded at $436.65, with a volume of 23,324 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

Elbit Systems Trading Up 0.6%

The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $408.51 and a 200 day simple moving average of $352.47. The firm has a market capitalization of $19.31 billion, a P/E ratio of 55.12 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same period last year, the firm earned $1.81 earnings per share. As a group, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 annualized dividend and a yield of 0.55%. Elbit Systems's payout ratio is 25.38%.

Institutional Trading of Elbit Systems

Several hedge funds have recently bought and sold shares of ESLT. Bank of New York Mellon Corp increased its holdings in shares of Elbit Systems by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company's stock worth $11,817,000 after purchasing an additional 2,317 shares during the last quarter. Henry James International Management Inc. raised its holdings in shares of Elbit Systems by 9.2% during the 4th quarter. Henry James International Management Inc. now owns 22,211 shares of the aerospace company's stock worth $5,732,000 after acquiring an additional 1,876 shares in the last quarter. US Bancorp DE raised its holdings in shares of Elbit Systems by 9.0% during the 4th quarter. US Bancorp DE now owns 2,690 shares of the aerospace company's stock worth $694,000 after acquiring an additional 222 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 106 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of Elbit Systems by 104.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,320 shares of the aerospace company's stock valued at $341,000 after purchasing an additional 675 shares in 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.