Elbit Systems (NASDAQ:ESLT) Sees Strong Trading Volume – Still a Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) saw unusually-high trading volume on Wednesday . Approximately 31,283 shares changed hands during trading, a decline of 9% from the previous session’s volume of 34,288 shares.The stock last traded at $400.17 and had previously closed at $405.01.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Elbit Systems Stock Performance

The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 67.09 and a beta of 0.53. The stock’s 50-day simple moving average is $329.41 and its two-hundred day simple moving average is $266.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. Analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s payout ratio is 27.72%.

Institutional Trading of Elbit Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hurley Capital LLC bought a new stake in shares of Elbit Systems in the fourth quarter valued at about $26,000. Prestige Wealth Management Group LLC lifted its position in shares of Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 75 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Elbit Systems during the 4th quarter worth approximately $41,000. Smartleaf Asset Management LLC increased its position in shares of Elbit Systems by 196.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 106 shares during the period. Finally, Morse Asset Management Inc acquired a new position in shares of Elbit Systems in the third quarter valued at $40,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.