Short Interest in Elbit Systems Ltd. (NASDAQ:ESLT) Rises By 8.4%

Elbit Systems Ltd. (NASDAQ:ESLT) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 107,000 shares, a growth of 8.4% from the December 31st total of 98,700 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of Elbit Systems

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in Elbit Systems by 99.4% in the third quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock valued at $678,000 after purchasing an additional 1,690 shares during the last quarter. Spectrum Asset Management Inc. NB CA purchased a new position in shares of Elbit Systems during the 3rd quarter valued at approximately $762,000. JPMorgan Chase & Co. grew its position in shares of Elbit Systems by 12.2% during the third 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. Stifel Financial Corp grew its position in shares of Elbit Systems by 50.3% during the third quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock worth $2,107,000 after buying an additional 3,524 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Elbit Systems by 12.1% in the third quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock worth $14,872,000 after buying an additional 8,000 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Price Performance

Shares of Elbit Systems stock opened at $303.21 on Tuesday. The stock has a market capitalization of $13.48 billion, a P/E ratio of 51.83 and a beta of 0.53. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $270.43 and its 200 day moving average price is $228.88. Elbit Systems has a twelve month low of $175.30 and a twelve month high of $308.96.

Elbit Systems Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.