Elbit Systems Ltd. (NASDAQ:ESLT) Sees Large Increase in Short Interest

Elbit Systems Ltd. (NASDAQ:ESLT) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 79,200 shares, an increase of 55.0% from the August 31st total of 51,100 shares. Based on an average daily trading volume, of 23,500 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.3% of the company’s shares are short sold.

Analyst Ratings Changes

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

Elbit Systems Stock Down 0.3 %

Shares of NASDAQ ESLT opened at $195.03 on Friday. Elbit Systems has a 12 month low of $175.30 and a 12 month high of $225.64. 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 fifty day simple moving average of $193.49 and a two-hundred day simple moving average of $194.29. The firm has a market capitalization of $8.67 billion, a PE ratio of 38.39 and a beta of 0.54.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. Equities analysts expect that Elbit Systems will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Tuesday, October 15th. Elbit Systems’s payout ratio is 32.68%.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds have recently bought and sold shares of ESLT. Blue Trust Inc. raised its holdings in Elbit Systems by 368.6% in the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 129 shares during the last quarter. Point72 DIFC Ltd bought a new position in Elbit Systems in the second quarter valued at about $35,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Elbit Systems by 56.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after buying an additional 84 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Elbit Systems by 53.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock worth $86,000 after acquiring an additional 143 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Elbit Systems by 21.2% during the fourth quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 94 shares in the last quarter. Institutional investors 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.