Elbit Systems (NASDAQ:ESLT) Shares Gap Up - Time to Buy?

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $265.79, but opened at $271.18. Elbit Systems shares last traded at $271.47, with a volume of 10,155 shares.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Performance

The stock has a 50 day moving average of $248.51 and a 200 day moving average of $213.94. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 46.85 and a beta of 0.52. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 23rd were paid a $0.50 dividend. This is a positive change from Elbit Systems's previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, December 23rd. Elbit Systems's dividend payout ratio is currently 28.38%.

Hedge Funds Weigh In On Elbit Systems

Hedge funds have recently bought and sold shares of the company. Coastline Trust Co acquired a new stake in Elbit Systems during the 3rd quarter worth about $34,000. Point72 DIFC Ltd acquired a new stake in Elbit Systems during the second quarter worth approximately $35,000. Morse Asset Management Inc bought a new stake in Elbit Systems in the third quarter worth approximately $40,000. Wilmington Savings Fund Society FSB acquired a new position in Elbit Systems in the third quarter valued at approximately $63,000. Finally, Avior Wealth Management LLC grew its position in shares of Elbit Systems by 49.1% during the 3rd quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company's stock worth $96,000 after buying an additional 158 shares during the period. Institutional investors 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.