Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $369.26, but opened at $395.99. Elbit Systems shares last traded at $411.57, with a volume of 44,265 shares traded.
The aerospace company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion.
Elbit Systems Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is an increase from Elbit Systems's previous quarterly dividend of $0.50. Elbit Systems's dividend payout ratio (DPR) is 27.72%.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.
Get Our Latest Stock Report on ESLT
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in ESLT. Hurley Capital LLC purchased a new stake in Elbit Systems during the fourth quarter valued at about $26,000. Prestige Wealth Management Group LLC raised its position in shares of Elbit Systems by 150.0% in the fourth 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 during the period. Morse Asset Management Inc purchased a new stake in shares of Elbit Systems during the 3rd quarter valued at approximately $40,000. Sierra Ocean LLC bought a new position in Elbit Systems in the 4th quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC grew its stake in 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 buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.
Elbit Systems Price Performance
The business's 50 day moving average is $321.05 and its two-hundred day moving average is $261.79. 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 firm has a market capitalization of $18.26 billion, a PE ratio of 70.23 and a beta of 0.53.
About Elbit Systems
(
Get Free Report)
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.
See Also
Before you consider Elbit Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elbit Systems wasn't on the list.
While Elbit Systems currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
