Elbit Systems (NASDAQ:ESLT) Shares Down 5.3% – Time to Sell?

Elbit Systems Ltd. (NASDAQ:ESLT) traded down 5.3% on Friday . The company traded as low as $861.48 and last traded at $864.4140. 10,113 shares were traded during mid-day trading, a decline of 93% from the average session volume of 147,873 shares. The stock had previously closed at $913.20.

Analyst Ratings Changes

ESLT has been the subject of several research reports. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $950.00 price target on shares of Elbit Systems in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their target price on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $742.75.

Elbit Systems Price Performance

The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market cap of $38.01 billion, a PE ratio of 69.06, a P/E/G ratio of 3.33 and a beta of 0.14. The firm has a 50 day moving average of $843.92 and a two-hundred day moving average of $744.29.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $2.14 billion. Research analysts predict that Elbit Systems Ltd. will post 15.94 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Elbit Systems’s payout ratio is currently 26.96%.

Insider Buying and Selling

In related news, EVP Ran Kril sold 6,803 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,036,982.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oren Yaacov Sabag sold 8,504 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $7,546,449.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,736 shares of company stock worth $61,883,726 in the last quarter. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESLT. WPG Advisers LLC bought a new position in shares of Elbit Systems in the first quarter valued at approximately $26,000. CoreCap Advisors LLC acquired a new position in shares of Elbit Systems in the fourth quarter valued at approximately $26,000. Optiver Holding B.V. acquired a new stake in shares of Elbit Systems in the 1st quarter valued at approximately $46,000. Archer Investment Corp bought a new stake in Elbit Systems during the 1st quarter valued at $85,000. Finally, Leonteq Securities AG purchased a new stake in Elbit Systems during the fourth quarter valued at about $68,000. 17.88% of the stock is owned by hedge funds and other 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.