Elbit Systems (NASDAQ:ESLT) Shares Down 3.9% - Time to Sell?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s stock price was down 3.9% on Tuesday . The company traded as low as $415.90 and last traded at $422.14. Approximately 64,613 shares changed hands during trading, a decline of 32% from the average daily volume of 95,282 shares. The stock had previously closed at $439.06.

Analyst Ratings Changes

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 firm has a market cap of $19.30 billion, a P/E ratio of 55.10 and a beta of 0.31. The firm has a fifty day moving average of $407.95 and a 200-day moving average of $351.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 1.21.

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

Elbit Systems Dividend Announcement

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

Institutional Trading of Elbit Systems

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position 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 valued at $11,817,000 after purchasing an additional 2,317 shares during the period. Henry James International Management Inc. grew its position in Elbit Systems by 9.2% in the 4th quarter. Henry James International Management Inc. now owns 22,211 shares of the aerospace company's stock worth $5,732,000 after purchasing an additional 1,876 shares during the last quarter. US Bancorp DE grew its position in Elbit Systems by 9.0% during the fourth quarter. US Bancorp DE now owns 2,690 shares of the aerospace company's stock worth $694,000 after buying an additional 222 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Elbit Systems by 196.3% in 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Elbit Systems by 104.7% during 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 during the period. 17.88% of the stock is 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.