Elbit Systems Ltd. (NASDAQ:ESLT) Sees Large Increase in Short Interest

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 107,000 shares, a growth of 8.4% from the December 31st total of 98,700 shares. Based on an average daily trading volume, of 34,300 shares, the short-interest ratio is presently 3.1 days. Currently, 0.4% of the company’s stock are sold short.

Analyst Ratings Changes

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

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $303.21 on Tuesday. The firm has a market capitalization of $13.48 billion, a P/E ratio of 51.83 and a beta of 0.53. 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 company has a 50 day moving average price of $270.43 and a 200 day moving average price of $228.88. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $308.96.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were given a $0.50 dividend. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Monday, December 23rd. Elbit Systems’s dividend payout ratio (DPR) is presently 28.38%.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sierra Ocean LLC purchased a new position in shares of Elbit Systems in the 4th quarter valued at approximately $41,000. Van ECK Associates Corp raised its position in Elbit Systems by 3.8% during the 4th quarter. Van ECK Associates Corp now owns 11,559 shares of the aerospace company’s stock worth $2,983,000 after buying an additional 426 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Elbit Systems during the 4th quarter worth approximately $590,000. Y.D. More Investments Ltd raised its position in Elbit Systems by 10.1% during the 4th quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock worth $117,520,000 after buying an additional 41,401 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Elbit Systems by 7.3% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the aerospace company’s stock worth $255,000 after buying an additional 67 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.