Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s Why

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up before the market opened on Wednesday . The stock had previously closed at $265.79, but opened at $271.18. Elbit Systems shares last traded at $271.47, with a volume of 10,155 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Price Performance

The stock has a market cap of $12.12 billion, a PE ratio of 46.62 and a beta of 0.52. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $248.51 and its 200-day moving average is $213.94.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were paid a $0.50 dividend. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.73%. Elbit Systems’s dividend payout ratio (DPR) is currently 28.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESLT. TD Asset Management Inc raised its stake in shares of Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock valued at $1,545,000 after buying an additional 73 shares in the last quarter. Y.D. More Investments Ltd lifted its position in shares of Elbit Systems by 32,724.6% during the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after purchasing an additional 402,512 shares in the last quarter. Renaissance Technologies LLC raised its position in Elbit Systems by 35.3% in the 2nd quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock worth $3,727,000 after purchasing an additional 5,500 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Elbit Systems during the 2nd quarter worth about $466,000. Finally, Altshuler Shaham Ltd raised its stake in shares of Elbit Systems by 2.0% during the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after buying an additional 18,014 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other 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.