Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Still a Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up before the market opened 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.

Analyst Ratings Changes

ESLT has been the subject of several recent research reports. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings raised shares of Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on shares of Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Finally, Morgan Stanley set a $845.00 price objective on shares of Elbit Systems in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Hold rating. According to MarketBeat, Elbit Systems currently has a consensus rating of “Hold” and an average target price of $840.00.

Elbit Systems Price Performance

The stock has a market capitalization of $32.96 billion, a P/E ratio of 55.89, a PEG ratio of 2.87 and a beta of 0.13. The company’s 50 day simple moving average is $727.58 and its two-hundred day simple moving average is $786.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.89.

Elbit Systems (NASDAQ:ESLT) last posted 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 company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. As a group, equities analysts expect that Elbit Systems Ltd. will post 15.86 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, October 13th. Elbit Systems’s dividend payout ratio is presently 25.09%.

Institutional Trading of Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in ESLT. Parallel Advisors LLC lifted its position in Elbit Systems by 2.0% during the 1st quarter. Parallel Advisors LLC now owns 883 shares of the aerospace company’s stock worth $750,000 after buying an additional 17 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Elbit Systems by 0.3% in the first quarter. Kestra Advisory Services LLC now owns 6,610 shares of the aerospace company’s stock worth $5,612,000 after acquiring an additional 18 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Elbit Systems by 6.2% in the second quarter. 180 Wealth Advisors LLC now owns 428 shares of the aerospace company’s stock worth $325,000 after acquiring an additional 25 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Elbit Systems by 100.0% during the third quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 25 shares in the last quarter. Finally, Venture Visionary Partners LLC lifted its position in shares of Elbit Systems by 4.3% during the third quarter. Venture Visionary Partners LLC now owns 600 shares of the aerospace company’s stock worth $409,000 after purchasing an additional 25 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Company Profile

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.