Elbit Systems (NASDAQ:ESLT) Hits New 52-Week High - Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $288.00 and last traded at $288.00, with a volume of 2603 shares. The stock had previously closed at $280.72.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Up 2.6 %

The firm has a 50 day simple moving average of $252.58 and a two-hundred day simple moving average of $216.78. 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 company has a market capitalization of $12.80 billion, a PE ratio of 49.24 and a beta of 0.52.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were given a $0.50 dividend. This is a boost from Elbit Systems's previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, December 23rd. Elbit Systems's dividend payout ratio is presently 28.38%.

Institutional Investors Weigh In On Elbit Systems

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in Elbit Systems by 35.3% in the 2nd 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 purchased a new stake in shares of Elbit Systems in the second quarter valued at $466,000. Altshuler Shaham Ltd grew its stake in Elbit Systems by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company's stock valued at $161,177,000 after acquiring an additional 18,014 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Elbit Systems by 5.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,211 shares of the aerospace company's stock valued at $1,960,000 after buying an additional 623 shares during the period. Finally, Bank of Montreal Can grew its stake in shares of Elbit Systems by 3.5% in the 2nd quarter. Bank of Montreal Can now owns 10,182 shares of the aerospace company's stock valued at $1,798,000 after buying an additional 347 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.

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.