Elbit Systems (NASDAQ:ESLT) Issues Quarterly Earnings Results

Elbit Systems (NASDAQ:ESLT) released its quarterly earnings results on Tuesday. The aerospace company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.33 by $0.54, FiscalAI reports. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%.

Elbit Systems Price Performance

ESLT stock opened at $767.82 on Tuesday. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 67.59, a PEG ratio of 3.22 and a beta of 0.14. Elbit Systems has a fifty-two week low of $373.17 and a fifty-two week high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The company’s 50 day moving average price is $857.38 and its 200 day moving average price is $710.31.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 13th were given a $1.00 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a $4.00 annualized dividend and a yield of 0.5%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. Elbit Systems’s dividend payout ratio is presently 29.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. raised their price objective on Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $667.00.

Insider Buying and Selling at Elbit Systems

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $7,546,449.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Yoram Shmuely sold 7,654 shares of Elbit Systems 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 69,736 shares of company stock valued at $61,883,726. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors raised its position in shares of Elbit Systems by 2.5% during the 4th quarter. Captrust Financial Advisors now owns 741 shares of the aerospace company’s stock valued at $428,000 after acquiring an additional 18 shares in the last quarter. Arax Advisory Partners grew its stake in Elbit Systems by 25.0% during the 4th quarter. Arax Advisory Partners now owns 150 shares of the aerospace company’s stock worth $87,000 after buying an additional 30 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Elbit Systems by 7.0% in the fourth quarter. Cibc World Market Inc. now owns 608 shares of the aerospace company’s stock worth $351,000 after purchasing an additional 40 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Elbit Systems by 2.2% in the third quarter. Vident Advisory LLC now owns 1,827 shares of the aerospace company’s stock worth $931,000 after purchasing an additional 40 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Elbit Systems by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 681 shares of the aerospace company’s stock worth $393,000 after purchasing an additional 41 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

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.