Elbit Systems (NASDAQ:ESLT) Posts Earnings Results, Beats Estimates By $0.27 EPS

Elbit Systems (NASDAQ:ESLT) posted its quarterly earnings data on Tuesday. The aerospace company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27, RTT News reports. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. During the same quarter last year, the company posted $1.81 EPS.

Elbit Systems Stock Performance

NASDAQ:ESLT opened at $406.84 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. Elbit Systems has a fifty-two week low of $175.30 and a fifty-two week high of $426.40. The stock has a market capitalization of $18.09 billion, a P/E ratio of 69.55 and a beta of 0.31. The company has a 50 day moving average price of $393.33 and a 200 day moving average price of $318.81.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Tuesday, April 22nd were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is presently 27.72%.

Hedge Funds Weigh In On Elbit Systems

Institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC grew its stake in shares of Elbit Systems by 3,461.1% in the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after acquiring an additional 623 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Elbit Systems in the first quarter worth $353,000. Royal Bank of Canada grew its stake in shares of Elbit Systems by 98.9% in the first quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after acquiring an additional 1,225 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Elbit Systems by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock worth $6,339,000 after acquiring an additional 1,191 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Elbit Systems by 33.7% in the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock worth $51,837,000 after acquiring an additional 34,049 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

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.