Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Time to Buy?

by · The Cerbat Gem

Elbit Systems Ltd. (NASDAQ:ESLT – Get Free Report)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $667.67, but opened at $704.89. Elbit Systems shares last traded at $702.0290, with a volume of 41,738 shares.

Wall Street Analyst Weigh In

ESLT has been the topic of a number of recent research reports. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. JPMorgan Chase & Co. dropped their price objective on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 19th. Jefferies Financial Group cut their target price on shares of Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a report on Monday, October 5th. Weiss Ratings upgraded shares of Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $840.00.

Read Our Latest Stock Report on Elbit Systems

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.89. The company has a market capitalization of $31.02 billion, a price-to-earnings ratio of 52.56, a price-to-earnings-growth ratio of 2.68 and a beta of 0.13. The firm has a fifty day simple moving average of $733.15 and a 200 day simple moving average of $788.47.

Elbit Systems (NASDAQ:ESLT – Get Free Report) last announced its earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.45. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. On average, analysts anticipate that Elbit Systems Ltd. will post 15.86 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, October 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio is presently 25.09%.

Institutional Trading of Elbit Systems

A number of institutional investors have recently made changes to their positions in ESLT. Contravisory Investment Management Inc. acquired a new position in Elbit Systems in the 3rd quarter valued at $293,000. Grove Bank & Trust lifted its stake in shares of Elbit Systems by 100.0% in the third quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock worth $34,000 after buying an additional 25 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Elbit Systems by 30.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 255 shares of the aerospace company’s stock worth $174,000 after purchasing an additional 59 shares in the last quarter. Plan A Wealth LLC boosted its holdings in shares of Elbit Systems by 36.4% during the 3rd quarter. Plan A Wealth LLC now owns 360 shares of the aerospace company’s stock worth $246,000 after purchasing an additional 96 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its position in shares of Elbit Systems by 4.3% in the third quarter. Venture Visionary Partners LLC now owns 600 shares of the aerospace company’s stock valued at $409,000 after purchasing an additional 25 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Company Profile

(Get Free Report)

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies integrated solutions for military, homeland security, and commercial aviation customers. Its offerings support airborne, land, naval, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) applications.

The company’s products and services include unmanned aircraft systems, electro-optical and night-vision systems, electronic warfare and signals intelligence solutions, communications equipment, tactical radios, artillery and precision munitions, armored vehicle systems, and military training and simulation technologies.

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