Elbit Systems (NASDAQ:ESLT) Reaches New 1-Year High – Here’s Why

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $256.82 and last traded at $256.82, with a volume of 6147 shares. The stock had previously closed at $251.43.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The company has a 50 day simple moving average of $233.96 and a 200-day simple moving average of $205.95. The stock has a market cap of $11.51 billion, a P/E ratio of 44.26 and a beta of 0.52.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Monday, December 23rd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s payout ratio is 28.38%.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd lifted its stake in shares of Elbit Systems by 2.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after acquiring an additional 18,014 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in Elbit Systems by 32,724.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after purchasing an additional 402,512 shares during the period. Meitav Investment House Ltd. increased its holdings in Elbit Systems by 41.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after purchasing an additional 98,440 shares during the period. Heard Capital LLC increased its holdings in Elbit Systems by 4.8% during the 3rd quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after purchasing an additional 10,070 shares during the period. Finally, Swiss National Bank increased its holdings in Elbit Systems by 0.5% during the 3rd quarter. Swiss National Bank now owns 79,626 shares of the aerospace company’s stock valued at $15,896,000 after purchasing an additional 368 shares during the period. Institutional investors own 17.88% of the company’s stock.

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.