Elbit Systems (NASDAQ:ESLT) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $700.04 and traded as high as $761.45. Elbit Systems shares last traded at $760.63, with a volume of 149,087 shares traded.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Down 0.3%

The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $34.18 billion, a P/E ratio of 67.68, a PEG ratio of 3.23 and a beta of 0.14. The firm has a 50 day moving average of $863.87 and a 200-day moving average of $704.19.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.33. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Elbit Systems had a return on equity of 15.53% and a net margin of 6.73%. On average, equities research analysts predict that Elbit Systems Ltd. will post 15.47 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 13th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 13th. Elbit Systems’s dividend payout ratio is presently 29.23%.

Insiders Place Their Bets

In related news, EVP Ran Kril sold 6,803 shares of the business’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 $6,036,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was 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. Insiders sold a total of 69,736 shares of company stock valued at $61,883,726 in the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Elbit Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd lifted its stake in Elbit Systems by 4.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock worth $1,351,958,000 after purchasing an additional 69,165 shares during the last quarter. Vanguard Group Inc. lifted its stake in Elbit Systems by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock worth $573,131,000 after purchasing an additional 13,406 shares during the last quarter. Van ECK Associates Corp lifted its stake in Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after purchasing an additional 628,236 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in Elbit Systems by 3.0% during the fourth quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company’s stock worth $356,345,000 after purchasing an additional 18,289 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Elbit Systems by 2.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock worth $246,121,000 after purchasing an additional 12,003 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.