Elbit Systems (NASDAQ:ESLT) Trading 6.1% Higher - Here's What Happened

Shares of Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) were up 6.1% during trading on Friday . The stock traded as high as $468.08 and last traded at $458.00. Approximately 107,042 shares were traded during mid-day trading, an increase of 90% from the average daily volume of 56,276 shares. The stock had previously closed at $431.48.

Analyst Ratings Changes

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

Elbit Systems Price 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 company's 50 day moving average is $400.67 and its 200 day moving average is $339.32. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 77.76 and a beta of 0.31.

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

Elbit Systems Announces Dividend

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 yield of 0.53%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems's dividend payout ratio is currently 25.25%.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds have recently bought and sold shares of ESLT. Hurley Capital LLC bought a new position in Elbit Systems in the 4th quarter valued at about $26,000. Larson Financial Group LLC bought a new position in Elbit Systems in the 1st quarter valued at about $29,000. Prestige Wealth Management Group LLC increased its holdings in Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after buying an additional 75 shares during the period. Smartleaf Asset Management LLC increased 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 buying an additional 106 shares during the period. Finally, Sierra Ocean LLC bought a new position in Elbit Systems in the 4th quarter valued at about $41,000. 17.88% of the stock is owned by institutional investors.

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.