Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) gapped down before the market opened on Monday . The stock had previously closed at $410.83, but opened at $397.27. Elbit Systems shares last traded at $396.37, with a volume of 23,223 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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 2.6 %

The company’s 50-day moving average is $321.05 and its 200-day moving average is $262.22. The firm has a market cap of $17.78 billion, a price-to-earnings ratio of 68.38 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

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

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. This is a boost from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Tuesday, April 22nd. Elbit Systems’s payout ratio is currently 27.72%.

Institutional Trading of Elbit Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Elbit Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock worth $229,268,000 after purchasing an additional 10,215 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of Elbit Systems by 10.1% in the 4th quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock valued at $117,520,000 after acquiring an additional 41,401 shares during the last quarter. Invesco Ltd. increased its stake in shares of Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock valued at $87,294,000 after acquiring an additional 39,095 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Elbit Systems by 177.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock valued at $59,207,000 after acquiring an additional 145,324 shares during the last quarter. Finally, Heard Capital LLC increased its stake in shares of Elbit Systems by 4.8% in the 3rd quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after acquiring an additional 10,070 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

About Elbit Systems

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.