Elbit Systems (NASDAQ:ESLT) Shares Gap Down - Here's What Happened

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $410.83, but opened at $397.27. Elbit Systems shares last traded at $396.37, with a volume of 23,223 shares changing hands.

Analysts Set New Price Targets

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

Elbit Systems Stock Performance

The company's fifty day simple moving average is $329.41 and its two-hundred day simple moving average is $266.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The stock has a market capitalization of $17.27 billion, a P/E ratio of 66.43 and a beta of 0.53.

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

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Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be paid 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 annualized dividend and a dividend yield of 0.62%. Elbit Systems's dividend payout ratio is 27.72%.

Institutional Trading of Elbit Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Elbit Systems by 2.9% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock valued at $540,000 after buying an additional 60 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Elbit Systems by 7.3% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the aerospace company's stock valued at $255,000 after acquiring an additional 67 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Elbit Systems by 1.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company's stock valued at $1,031,000 after acquiring an additional 69 shares during the period. Prestige Wealth Management Group LLC grew its holdings in shares of Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Finally, Hurley Capital LLC bought a new position in shares of Elbit Systems in the fourth quarter worth $26,000. 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.