Elbit Systems (NASDAQ:ESLT) Sets New 52-Week High - What's Next?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $235.18 and last traded at $235.18, with a volume of 1823 shares traded. The stock had previously closed at $228.55.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 16th.

Elbit Systems Trading Up 3.4 %

The firm has a market cap of $10.50 billion, a PE ratio of 43.43 and a beta of 0.51. The company's fifty day moving average price is $205.17 and its two-hundred day moving average price is $195.90. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the firm earned $1.57 earnings per share. As a group, sell-side analysts forecast that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, October 15th. Elbit Systems's dividend payout ratio (DPR) is 30.51%.

Institutional Trading of Elbit Systems

Several hedge funds and other institutional investors have recently made changes to their positions in ESLT. Summit Global Investments acquired a new position in Elbit Systems during the third quarter worth about $251,000. Van ECK Associates Corp raised its position in shares of Elbit Systems by 13.9% in the third quarter. Van ECK Associates Corp now owns 11,133 shares of the aerospace company's stock valued at $2,314,000 after buying an additional 1,358 shares during the last quarter. AM Investment Strategies LLC acquired a new position in shares of Elbit Systems in the third quarter valued at approximately $200,000. US Bancorp DE raised its position in shares of Elbit Systems by 9.6% in the third quarter. US Bancorp DE now owns 2,468 shares of the aerospace company's stock valued at $494,000 after buying an additional 217 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its holdings in Elbit Systems by 41.3% in the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company's stock valued at $67,264,000 after purchasing an additional 98,440 shares during the period. Institutional investors and hedge funds own 17.88% of the company's stock.

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.