Elbit Systems (NASDAQ:ESLT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) saw an uptick in trading volume on Monday . 60,607 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 54,453 shares.The stock last traded at $409.24 and had previously closed at $420.22.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Elbit Systems Stock Performance

The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $395.44 and its 200-day moving average is $334.34. The stock has a market cap of $18.45 billion, a price-to-earnings ratio of 70.81 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company earned $1.81 earnings per share. On average, analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 annualized dividend and a yield of 0.58%. Elbit Systems’s payout ratio is presently 25.25%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI raised its holdings in Elbit Systems by 8.6% in the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company’s stock valued at $151,000 after acquiring an additional 31 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Elbit Systems by 5.3% during the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company’s stock worth $337,000 after acquiring an additional 44 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Elbit Systems by 3.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company’s stock valued at $575,000 after purchasing an additional 55 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Elbit Systems by 2.9% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company’s stock worth $540,000 after purchasing an additional 60 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Elbit Systems by 1.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock worth $1,031,000 after purchasing an additional 69 shares during the last quarter. 17.88% of the stock is currently 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.