Elbit Systems (NASDAQ:ESLT) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research firms also recently commented on ESLT. Jefferies Financial Group decreased their target price on Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings downgraded Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. Morgan Stanley set a $845.00 price objective on Elbit Systems in a report on Wednesday, July 15th. JPMorgan Chase & Co. lowered their target price on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating for the company in a research report on Wednesday, August 19th. Finally, Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $870.00.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT opened at $703.28 on Friday. The company has a market cap of $31.26 billion, a P/E ratio of 53.00, a P/E/G ratio of 2.92 and a beta of 0.14. Elbit Systems has a 52-week low of $453.00 and a 52-week high of $1,016.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39. The firm’s fifty day moving average is $770.69 and its two-hundred day moving average is $813.37.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.69 by $0.45. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. As a group, analysts anticipate that Elbit Systems will post 15.61 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $4.00 annualized dividend and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio is currently 25.09%.

Hedge Funds Weigh In On Elbit Systems

A number of large investors have recently made changes to their positions in ESLT. WPG Advisers LLC purchased a new stake in Elbit Systems in the 1st quarter worth about $26,000. Optiver Holding B.V. purchased a new position in shares of Elbit Systems during the first quarter valued at approximately $46,000. Wexford Capital LP bought a new position in shares of Elbit Systems during the third quarter valued at approximately $63,000. Leonteq Securities AG bought a new position in shares of Elbit Systems during the fourth quarter valued at approximately $68,000. Finally, Hilton Head Capital Partners LLC purchased a new stake in shares of Elbit Systems in the fourth quarter worth approximately $69,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

About Elbit Systems

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.