Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Update

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 239,691 shares, a growth of 130.9% from the May 31st total of 103,811 shares. Based on an average daily volume of 94,507 shares, the days-to-cover ratio is presently 2.5 days. Currently, 0.5% of the shares of the stock are sold short.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT traded up $9.73 during trading on Wednesday, reaching $768.46. 41,659 shares of the company traded hands, compared to its average volume of 144,421. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $810.77 and a 200-day simple moving average of $771.94. Elbit Systems has a 52-week low of $422.84 and a 52-week high of $1,016.06. The stock has a market capitalization of $34.16 billion, a PE ratio of 62.34, a P/E/G ratio of 3.11 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Equities research analysts anticipate that Elbit Systems will post 15.3 earnings per share for the current year.

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio is presently 26.96%.

Insiders Place Their Bets

In related news, EVP Haim Daniel Delmar sold 7,654 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 69,736 shares of company stock worth $61,883,726. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Elbit Systems

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Elbit Systems by 2.0% during the 1st quarter. Parallel Advisors LLC now owns 883 shares of the aerospace company’s stock valued at $750,000 after buying an additional 17 shares in the last quarter. Optiver Holding B.V. bought a new stake in Elbit Systems in the 1st quarter worth approximately $46,000. Krane Financial Solutions LLC purchased a new stake in shares of Elbit Systems during the 1st quarter worth approximately $1,443,000. BankChampaign National Association purchased a new stake in shares of Elbit Systems during the 1st quarter worth approximately $697,000. Finally, Amundi boosted its position in shares of Elbit Systems by 43.2% during the 1st quarter. Amundi now owns 22,319 shares of the aerospace company’s stock valued at $18,951,000 after acquiring an additional 6,728 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ESLT. Jefferies Financial Group reduced their price objective on Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their target price on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Finally, Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Elbit Systems currently has an average rating of “Hold” and a consensus price target of $725.25.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.