Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Should You Sell?

Elbit Systems Ltd. (NASDAQ:ESLT) shares gapped down before the market opened on Thursday . The stock had previously closed at $262.29, but opened at $256.31. Elbit Systems shares last traded at $255.70, with a volume of 5,535 shares.

Analyst Ratings Changes

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

Elbit Systems Stock Down 2.0 %

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 firm’s 50 day moving average price is $240.23 and its two-hundred day moving average price is $208.80. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 43.95 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. Shareholders of record on Monday, December 23rd will be paid a $0.50 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, December 23rd. Elbit Systems’s dividend payout ratio (DPR) is 28.38%.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in shares of Elbit Systems by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 19,340 shares of the aerospace company’s stock worth $3,870,000 after acquiring an additional 855 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Elbit Systems during the third quarter worth about $63,000. Geode Capital Management LLC lifted its position in Elbit Systems by 0.5% in the third quarter. Geode Capital Management LLC now owns 38,426 shares of the aerospace company’s stock valued at $7,689,000 after purchasing an additional 175 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Elbit Systems in the 3rd quarter valued at approximately $771,000. Finally, Orion Portfolio Solutions LLC increased its position in Elbit Systems by 4.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,429 shares of the aerospace company’s stock worth $1,086,000 after purchasing an additional 208 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Company Profile

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.