Elbit Systems (NASDAQ:ESLT) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a report issued on Saturday.

A number of other brokerages have also recently commented on ESLT. Bank of America upped their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Morgan Stanley assumed coverage on Elbit Systems in a research report on Thursday. They set an “equal weight” rating and a $531.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 1st. JPMorgan Chase & Co. assumed coverage on shares of Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price objective on the stock. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $530.33.

Elbit Systems Price Performance

ESLT opened at $513.27 on Friday. Elbit Systems has a 52-week low of $255.01 and a 52-week high of $529.99. The company has a 50 day moving average of $486.04 and a two-hundred day moving average of $469.99. The company has a market cap of $22.81 billion, a P/E ratio of 52.16, a P/E/G ratio of 1.79 and a beta of 0.24. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.60. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. On average, analysts expect that Elbit Systems will post 8.05 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, January 5th. Stockholders of record on Monday, December 22nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 22nd. Elbit Systems’s dividend payout ratio is presently 25.41%.

Institutional Trading of Elbit Systems

Several hedge funds have recently bought and sold shares of ESLT. Assetmark Inc. boosted its position in shares of Elbit Systems by 11.2% during the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock worth $94,000 after buying an additional 21 shares during the period. SteelPeak Wealth LLC lifted its position in shares of Elbit Systems by 1.1% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock valued at $950,000 after acquiring an additional 21 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Elbit Systems by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock worth $608,000 after purchasing an additional 29 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Elbit Systems by 8.6% during the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company’s stock valued at $151,000 after acquiring an additional 31 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Elbit Systems by 20.9% in the second quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock worth $83,000 after buying an additional 32 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.