Elbit Systems (NASDAQ:ESLT) Trading Down 3.9% – Should You Sell?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) were down 3.9% during trading on Tuesday . The stock 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.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Sunday.

Elbit Systems Price Performance

The stock has a market capitalization of $18.90 billion, a P/E ratio of 53.95 and a beta of 0.31. The company’s 50-day simple moving average is $406.55 and its 200-day simple moving average is $348.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same quarter in the previous year, the company posted $1.81 earnings per share. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems’s dividend payout ratio is 25.25%.

Institutional Trading of Elbit Systems

Institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd raised its position in shares of Elbit Systems by 0.3% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company’s stock valued at $520,189,000 after buying an additional 4,248 shares in the last quarter. Vanguard Group Inc. increased its stake in Elbit Systems by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company’s stock worth $341,276,000 after acquiring an additional 15,552 shares during the period. Y.D. More Investments Ltd raised its holdings in Elbit Systems by 0.6% in the 1st quarter. Y.D. More Investments Ltd now owns 452,288 shares of the aerospace company’s stock valued at $173,349,000 after acquiring an additional 2,541 shares in the last quarter. Invesco Ltd. lifted its position in shares of Elbit Systems by 13.1% during the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock valued at $87,294,000 after acquiring an additional 39,095 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Elbit Systems by 177.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock valued at $59,207,000 after acquiring an additional 145,324 shares during the period. Institutional investors own 17.88% of the company’s stock.

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.