Elbit Systems (NASDAQ:ESLT) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Elbit Systems (NASDAQ:ESLT) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on ESLT. Jefferies Financial Group lowered their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Elbit Systems has a consensus rating of “Hold” and a consensus price target of $725.25.

Elbit Systems Stock Performance

NASDAQ:ESLT opened at $732.71 on Wednesday. Elbit Systems has a twelve month low of $422.84 and a twelve month high of $1,016.06. 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 stock’s 50-day simple moving average is $819.47 and its 200 day simple moving average is $766.87. The firm has a market capitalization of $32.57 billion, a PE ratio of 59.33, a price-to-earnings-growth ratio of 3.19 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 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. On average, analysts anticipate that Elbit Systems will post 15.3 EPS for the current fiscal year.

Elbit Systems Announces Dividend

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

Insider Buying and Selling

In related news, EVP Oren Yaacov Sabag sold 8,504 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $7,546,449.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Ariel sold 7,654 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last three months. Insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

Several large investors have recently modified their holdings of ESLT. WPG Advisers LLC bought a new stake in shares of Elbit Systems in the 1st quarter valued at $26,000. CoreCap Advisors LLC bought a new position in Elbit Systems during the fourth quarter worth $26,000. Optiver Holding B.V. acquired a new stake in Elbit Systems in the first quarter worth $46,000. Archer Investment Corp acquired a new stake in Elbit Systems in the first quarter worth $85,000. Finally, Leonteq Securities AG bought a new stake in Elbit Systems in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 17.88% of the company’s stock.

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.