Elbit Systems (NASDAQ:ESLT) Shares Gap Up – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $767.82, but opened at $857.49. Elbit Systems shares last traded at $839.48, with a volume of 85,837 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ESLT shares. JPMorgan Chase & Co. boosted their price target on shares of Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a report on Monday, April 13th. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $667.00.

Elbit Systems Stock Performance

The business’s 50-day moving average price is $857.38 and its 200-day moving average price is $710.31. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market cap of $36.69 billion, a PE ratio of 72.66, a P/E/G ratio of 3.22 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.33. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.09 billion. As a group, equities research analysts expect that Elbit Systems Ltd. will post 15.47 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 13th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, April 13th. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. Elbit Systems’s payout ratio is presently 29.31%.

Insider Transactions at Elbit Systems

In other news, EVP Jonathan Ariel sold 7,654 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Oren Yaacov Sabag sold 8,504 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $7,546,449.60. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in Elbit Systems by 2.0% in the 1st quarter. Parallel Advisors LLC now owns 883 shares of the aerospace company’s stock worth $750,000 after purchasing an additional 17 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Elbit Systems by 0.3% during the 1st quarter. Kestra Advisory Services LLC now owns 6,610 shares of the aerospace company’s stock valued at $5,612,000 after purchasing an additional 18 shares in the last quarter. Captrust Financial Advisors increased its stake in Elbit Systems by 2.5% during the 4th quarter. Captrust Financial Advisors now owns 741 shares of the aerospace company’s stock valued at $428,000 after purchasing an additional 18 shares in the last quarter. Cardinal Capital Management raised its holdings in shares of Elbit Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 7,889 shares of the aerospace company’s stock worth $4,558,000 after buying an additional 20 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Elbit Systems by 2.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock worth $608,000 after buying an additional 29 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.