Elbit Systems (NASDAQ:ESLT) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a strong-buy rating in a report issued on Wednesday morning.

Elbit Systems Stock Down 0.4 %

Shares of NASDAQ:ESLT opened at $248.67 on Wednesday. The company has a market capitalization of $11.05 billion, a PE ratio of 45.71 and a beta of 0.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The company’s fifty day moving average is $214.04 and its 200-day moving average is $198.95. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $252.50.

Elbit Systems Increases Dividend

The company 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. The ex-dividend date is Monday, December 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s payout ratio is 30.51%.

Institutional Investors Weigh In On Elbit Systems

Large investors have recently bought and sold shares of the business. Y.D. More Investments Ltd boosted its stake in Elbit Systems by 32,724.6% in 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 in the last quarter. Meitav Investment House Ltd. grew 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 worth $67,264,000 after acquiring an additional 98,440 shares during the last quarter. Millennium Management LLC grew its holdings in Elbit Systems by 253.0% during the 2nd quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock worth $5,158,000 after acquiring an additional 20,932 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Elbit Systems in the first quarter worth about $3,888,000. Finally, Altshuler Shaham Ltd lifted its position in shares of 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 in the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.