Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s Why

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up prior to trading on Monday . The stock had previously closed at $473.03, but opened at $516.48. Elbit Systems shares last traded at $511.8950, with a volume of 74,323 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on ESLT. Bank of America increased their price objective on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a research note on Wednesday, October 8th. Finally, Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elbit Systems presently has an average rating of “Hold” and an average price target of $530.00.

Elbit Systems Trading Up 0.2%

The stock has a market capitalization of $22.41 billion, a PE ratio of 57.21, a PEG ratio of 1.74 and a beta of 0.30. The stock’s 50 day moving average price is $493.26 and its 200-day moving average price is $458.33. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.60. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 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, January 5th. Investors of record on Monday, December 22nd will be given a dividend of $0.75 per share. The ex-dividend date is Monday, December 22nd. This represents a $3.00 annualized dividend and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio (DPR) is currently 28.26%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in shares of Elbit Systems in the third quarter worth $26,000. Activest Wealth Management bought a new stake in Elbit Systems in the 2nd quarter valued at $28,000. Larson Financial Group LLC purchased a new stake in Elbit Systems in the 1st quarter worth $29,000. Traub Capital Management LLC bought a new position in shares of Elbit Systems during the 2nd quarter valued at about $31,000. Finally, Financial Consulate Inc. purchased a new position in shares of Elbit Systems during the third quarter valued at about $60,000. 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.