Elbit Systems (NASDAQ:ESLT) Shares Break Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares broke above the 200-day moving average: Elbit Systems rose 1.5%, reaching $791.60 and last trading at $790.00, compared with a 200-day average of $782.72.
• New contracts support growth: The company won approximately $200 million in multiyear Asia-Pacific contracts for airborne ISTAR systems and training, while growing drone adoption may provide an additional long-term catalyst.
• Analyst sentiment remains cautious: The consensus rating is “Hold,” with an average price target of $841.67, despite recent quarterly earnings and revenue exceeding expectations.

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $782.72 and traded as high as $791.60. Elbit Systems shares last traded at $790.00, with a volume of 155,276 shares.

Elbit Systems News Roundup

Here are the key news stories impacting Elbit Systems this week:

• Positive Sentiment: $200 million Asia-Pacific contracts: Elbit Systems was awarded approximately $200 million in contracts to provide airborne ISTAR (intelligence, surveillance, target acquisition and reconnaissance) systems and training solutions. The multiyear awards are expected to support revenue visibility and strengthen the company’s position in the growing regional defense market. Elbit Systems Secures $200M Asia-Pacific Contract for Airborne ISTAR and Training Solutions
• Positive Sentiment: Drone and defense exposure: A Zacks report identified Elbit Systems, alongside Kratos Defense and RTX, as a stock positioned to benefit from rising adoption of drone technology. Increasing demand for unmanned systems and related sensors could provide an additional long-term growth catalyst for ESLT. 3 Drone Technology Stocks Poised to Benefit From Rising Adoption

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Elbit Systems from $880.00 to $790.00 and set a "hold" rating on the stock in a report on Monday, October 5th. Morgan Stanley set a $850.00 price target on shares of Elbit Systems in a report on Friday, October 16th. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. JPMorgan Chase & Co. dropped their price objective on shares of Elbit Systems from $950.00 to $885.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Elbit Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Elbit Systems currently has a consensus rating of "Hold" and an average target price of $841.67.

Elbit Systems Trading Up 1.5%

The stock has a market cap of $35.12 billion, a price-to-earnings ratio of 59.53 and a beta of 0.13. The stock's 50 day moving average is $722.35 and its two-hundred day moving average is $782.72.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.69 by $0.45. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.25 billion. On average, sell-side analysts predict that Elbit Systems Ltd. will post 16.02 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, October 13th. Elbit Systems's payout ratio is presently 25.02%.

Institutional Investors Weigh In On Elbit Systems

A number of large investors have recently bought and sold shares of ESLT. Citizens Financial Group Inc. RI lifted its stake in Elbit Systems by 1.0% during the third quarter. Citizens Financial Group Inc. RI now owns 1,490 shares of the aerospace company's stock valued at $1,016,000 after buying an additional 15 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Elbit Systems by 31.4% in the third quarter. Inspire Investing LLC now owns 464 shares of the aerospace company's stock worth $316,000 after buying an additional 111 shares during the period. Cardinal Capital Management increased its position in shares of Elbit Systems by 4.4% in the third quarter. Cardinal Capital Management now owns 5,352 shares of the aerospace company's stock worth $3,650,000 after acquiring an additional 225 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Elbit Systems by 1.8% in the third quarter. Quadrant Capital Group LLC now owns 1,965 shares of the aerospace company's stock worth $1,312,000 after acquiring an additional 35 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in shares of Elbit Systems by 11.3% during the third quarter. Diversify Advisory Services LLC now owns 3,203 shares of the aerospace company's stock valued at $2,375,000 after acquiring an additional 326 shares during the period. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies a broad range of systems for military, homeland security, and commercial aviation customers. Its offerings include command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems; unmanned aerial systems; electro-optical and night-vision technologies; electronic warfare and signal intelligence solutions; and cyber-related capabilities.

The company also provides land systems, artillery and precision ammunition solutions, military vehicle systems, avionics, aircraft mission systems, training and simulation technologies, and helmet-mounted displays.

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