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

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $301.00 and last traded at $303.24, with a volume of 1795 shares trading hands. The stock had previously closed at $297.82.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Down 1.2 %

The company has a market cap of $13.52 billion, a price-to-earnings ratio of 51.97 and a beta of 0.52. The stock has a 50-day simple moving average of $261.46 and a 200-day simple moving average of $222.21. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Monday, December 23rd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s dividend payout ratio is currently 28.38%.

Institutional Trading of Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Meitav Investment House Ltd. increased its stake in shares of Elbit Systems by 41.3% during the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after acquiring an additional 98,440 shares during the period. Millennium Management LLC increased its position in shares of Elbit Systems by 253.0% during the 2nd quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Elbit Systems by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after buying an additional 18,614 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Elbit Systems in the second quarter valued at $2,181,000. Finally, Heard Capital LLC boosted its stake in Elbit Systems by 4.8% during the third quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after buying an additional 10,070 shares in the last quarter. 17.88% of the stock is currently owned by 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.