Elbit Systems (NASDAQ:ESLT) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen lowered shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a research note released on Friday morning.

ESLT has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a report on Saturday, September 27th. Bank of America lifted their price objective on shares of Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. started coverage on shares of Elbit Systems in a research note on Tuesday. They issued a “neutral” rating and a $520.00 price target for the company. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Elbit Systems presently has a consensus rating of “Hold” and a consensus target price of $530.00.

Elbit Systems Price Performance

Shares of ESLT opened at $514.99 on Friday. Elbit Systems has a 1-year low of $201.25 and a 1-year high of $527.29. The stock has a market cap of $22.89 billion, a PE ratio of 58.46, a P/E/G ratio of 1.81 and a beta of 0.33. The firm has a 50-day simple moving average of $480.26 and a two-hundred day simple moving average of $435.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.57 by $0.66. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, analysts forecast that Elbit Systems will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This represents a $3.00 annualized dividend and a dividend yield of 0.6%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s payout ratio is presently 22.70%.

Institutional Trading of Elbit Systems

Several institutional investors and hedge funds have recently bought and sold shares of ESLT. Y.D. More Investments Ltd raised its position in Elbit Systems by 35.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after purchasing an additional 158,689 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Elbit Systems by 226.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after purchasing an additional 134,300 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Elbit Systems by 27.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock worth $210,967,000 after purchasing an additional 101,083 shares during the period. Meitav Investment House Ltd. grew its stake in shares of Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after purchasing an additional 82,103 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Elbit Systems by 74.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company’s stock worth $78,084,000 after purchasing an additional 74,754 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

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.