Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – Here’s What Happened

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $269.22 and last traded at $269.22, with a volume of 5351 shares trading hands. The stock had previously closed at $261.47.

Wall Street Analysts Forecast Growth

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

Elbit Systems Trading Up 3.1 %

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 has a market capitalization of $12.18 billion, a PE ratio of 46.85 and a beta of 0.52. The company’s fifty day simple moving average is $249.43 and its 200-day simple moving average is $214.36.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.73%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. 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 ESLT. TD Asset Management Inc increased its position in Elbit Systems by 0.8% during the second quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock worth $1,545,000 after purchasing an additional 73 shares during the last quarter. Y.D. More Investments Ltd increased its position in Elbit Systems by 32,724.6% during the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after purchasing an additional 402,512 shares during the last quarter. Renaissance Technologies LLC increased its position in Elbit Systems by 35.3% during the second quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock worth $3,727,000 after purchasing an additional 5,500 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Elbit Systems during the second quarter worth about $466,000. Finally, Altshuler Shaham Ltd increased its position in Elbit Systems by 2.0% during the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after purchasing an additional 18,014 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

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.