Elbit Systems (NASDAQ:ESLT) Sees Unusually-High Trading Volume After Dividend Announcement

Elbit Systems Ltd. (NASDAQ:ESLT) shares saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 35,327 shares were traded during trading, an increase of 9% from the previous session’s volume of 32,348 shares.The stock last traded at $406.99 and had previously closed at $410.60.

The newly announced dividend which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be given a $0.60 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 22nd. Elbit Systems’s payout ratio is currently 28.38%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Elbit Systems Trading Down 0.5 %

The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 69.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The company’s 50 day simple moving average is $315.67 and its 200 day simple moving average is $258.87.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.71. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, research analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its position in shares of Elbit Systems by 16.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,765 shares of the aerospace company’s stock worth $455,000 after purchasing an additional 251 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Elbit Systems by 1.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock valued at $1,031,000 after buying an additional 69 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in Elbit Systems during the 4th quarter worth about $1,479,000. Squarepoint Ops LLC boosted its position in shares of Elbit Systems by 105.8% during the 4th quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 14,796 shares in the last quarter. Finally, Sig Brokerage LP purchased a new position in shares of Elbit Systems in the 4th quarter valued at about $591,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

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.