Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $414.64 and last traded at $408.53, with a volume of 215135 shares. The stock had previously closed at $369.26.
The aerospace company reported $2.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The company had revenue of $1.93 billion for 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%.
Elbit Systems Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.58%. This is an increase from Elbit Systems's previous quarterly dividend of $0.50. Elbit Systems's dividend payout ratio is currently 27.72%.
Analyst Ratings Changes
Separately, StockNews.com downgraded Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.
View Our Latest Analysis on Elbit Systems
Institutional Investors Weigh In On Elbit Systems
A number of large investors have recently added to or reduced their stakes in ESLT. Hurley Capital LLC acquired a new stake in shares of Elbit Systems in the 4th quarter valued at $26,000. Prestige Wealth Management Group LLC boosted its holdings in shares of Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Elbit Systems in the 3rd quarter valued at $40,000. Sierra Ocean LLC acquired a new stake in shares of Elbit Systems in the 4th quarter valued at $41,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.
Elbit Systems Stock Performance
The stock has a fifty day simple moving average of $321.05 and a two-hundred day simple moving average of $261.38. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 70.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.
About Elbit Systems
(
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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.
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