Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Should You Sell?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $418.88, but opened at $393.89. Elbit Systems shares last traded at $377.28, with a volume of 74,251 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a report 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 stock’s 50-day simple moving average is $388.15 and its two-hundred day simple moving average is $311.34. The company has a market capitalization of $16.82 billion, a price-to-earnings ratio of 64.75 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. Equities research analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd were issued a dividend of $0.60 per share. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.63%. Elbit Systems’s dividend payout ratio is presently 27.72%.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently modified their holdings of the company. National Bank of Canada FI increased its holdings in shares of Elbit Systems by 8.6% during 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 during the period. Townsquare Capital LLC increased its holdings in shares of Elbit Systems by 5.3% during 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 during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Elbit Systems by 3.8% during 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 during the period. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Elbit Systems by 2.9% during 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 during the period. Finally, Blue Trust Inc. increased its holdings in shares of Elbit Systems by 7.3% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the aerospace company’s stock valued at $255,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

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.