Elbit Systems Ltd. (NASDAQ:ESLT) Announces $1.00 Quarterly Dividend

Elbit Systems Ltd. (NASDAQ:ESLT) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Tuesday, October 13th will be paid a dividend of 1.00 per share by the aerospace company on Monday, October 26th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, October 13th.

Elbit Systems has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Elbit Systems has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Elbit Systems to earn $18.17 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 18.3%.

Elbit Systems Price Performance

Shares of NASDAQ:ESLT traded down $69.96 during midday trading on Tuesday, hitting $776.08. The stock had a trading volume of 233,545 shares, compared to its average volume of 133,211. The company’s 50-day moving average price is $796.99 and its 200-day moving average price is $808.39. Elbit Systems has a fifty-two week low of $432.85 and a fifty-two week high of $1,016.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $34.50 billion, a P/E ratio of 62.84, a price-to-earnings-growth ratio of 3.65 and a beta of 0.17.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.45. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. As a group, equities research analysts predict that Elbit Systems will post 15.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its position in Elbit Systems by 4.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock valued at $1,351,958,000 after purchasing an additional 69,165 shares during the period. Vanguard Group Inc. raised its holdings in Elbit Systems by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock worth $573,131,000 after buying an additional 13,406 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Elbit Systems by 2.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after buying an additional 12,003 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Elbit Systems by 8.9% during the first quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company’s stock valued at $332,985,000 after buying an additional 32,617 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Elbit Systems by 10.0% during the third quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company’s stock valued at $189,090,000 after buying an additional 33,619 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

About Elbit Systems

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.