Elbit Systems (NASDAQ:ESLT) Sees Large Volume Increase Following Dividend Announcement

Shares of Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) saw an uptick in trading volume on Thursday after the company announced a dividend. 35,327 shares traded hands during trading, an increase of 9% from the previous session's volume of 32,348 shares.The stock last traded at $406.99 and had previously closed at $410.60.

The newly announced dividend which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be given a $0.60 dividend. The ex-dividend date is Tuesday, April 22nd. This is an increase from Elbit Systems's previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. Elbit Systems's dividend payout ratio (DPR) is currently 27.72%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Elbit Systems Trading Down 3.7 %

The company's 50 day simple moving average is $323.20 and its 200-day simple moving average is $263.59. The firm has a market cap of $17.58 billion, a P/E ratio of 67.61 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, research analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

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Institutional Trading of Elbit Systems

A number of large investors have recently made changes to their positions in ESLT. Hurley Capital LLC purchased a new position in Elbit Systems in the 4th quarter worth about $26,000. Prestige Wealth Management Group LLC increased its position in shares of Elbit Systems by 150.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after acquiring an additional 75 shares during the period. Morse Asset Management Inc bought a new stake in shares of Elbit Systems during the third quarter valued at approximately $40,000. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems in the fourth quarter valued at approximately $41,000. Finally, Smartleaf Asset Management LLC grew its stake in Elbit Systems by 196.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock worth $41,000 after purchasing an additional 106 shares in the last quarter. 17.88% of the stock is owned by hedge funds and other 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.