Elbit Systems Ltd. (NASDAQ:ESLT) Given Average Recommendation of “Hold” by Brokerages

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) have been assigned an average rating of “Hold” from the six research firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $787.50.

Several brokerages recently weighed in on ESLT. JPMorgan Chase & Co. cut their target price on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 19th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Jefferies Financial Group cut their price objective 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. Morgan Stanley set a $845.00 price objective on Elbit Systems in a research note on Wednesday, July 15th. Finally, Weiss Ratings lowered Elbit Systems from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $730.40 on Tuesday. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 3.08 and a beta of 0.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.89. The business has a 50-day moving average of $782.12 and a 200 day moving average of $812.00. Elbit Systems has a 12 month low of $453.00 and a 12 month high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.45. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. As a group, sell-side analysts forecast that Elbit Systems will post 15.61 earnings per share for the current year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. Elbit Systems’s dividend payout ratio (DPR) is currently 25.09%.

Hedge Funds Weigh In On Elbit Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in 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 during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Elbit Systems in the 1st quarter valued at $353,000. NewEdge Advisors LLC raised its holdings in shares of Elbit Systems by 3,461.1% in the 1st quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock valued at $246,000 after purchasing an additional 623 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Elbit Systems by 33.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock worth $51,837,000 after purchasing an additional 34,049 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elbit Systems by 7.8% during the 1st 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 purchasing an additional 1,191 shares during 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.