Elbit Systems (NASDAQ:ESLT) Sees Strong Trading Volume - Here's Why

Elbit Systems Ltd. (NASDAQ:ESLT - Get Free Report) shares saw an uptick in trading volume on Monday . 20,763 shares changed hands during trading, a decline of 11% from the previous session's volume of 23,294 shares.The stock last traded at $208.93 and had previously closed at $201.94.

Analyst Upgrades and Downgrades

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

Elbit Systems Trading Up 3.5 %

The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $195.06 and a 200-day moving average price of $194.24. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 41.19 and a beta of 0.53.

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, topping analysts' consensus estimates of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the firm posted $1.57 earnings per share. As a group, sell-side analysts predict that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Elbit Systems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be given a $0.416 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 annualized dividend and a dividend yield of 0.80%. Elbit Systems's dividend payout ratio (DPR) is presently 32.68%.

Institutional Trading of Elbit Systems

Several institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd lifted its position in Elbit Systems by 2.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company's stock worth $161,177,000 after buying an additional 18,014 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Elbit Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company's stock worth $174,597,000 after acquiring an additional 11,643 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Elbit Systems by 32,724.6% during the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company's stock valued at $71,329,000 after purchasing an additional 402,512 shares during the last quarter. Meitav Investment House Ltd. grew its stake in Elbit Systems by 13.2% in the second quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company's stock valued at $42,117,000 after purchasing an additional 27,851 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Elbit Systems by 34.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company's stock worth $20,575,000 after purchasing an additional 24,484 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.