Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – Time to Buy?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high on Tuesday . The company traded as high as $235.18 and last traded at $235.18, with a volume of 1823 shares trading hands. The stock had previously closed at $228.55.

Wall Street Analysts Forecast Growth

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

Elbit Systems Trading Down 1.4 %

The stock has a market capitalization of $10.35 billion, a PE ratio of 42.80 and a beta of 0.51. The company’s 50 day moving average price is $206.52 and its two-hundred day moving average price is $196.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.63.

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

Elbit Systems Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were given a $0.416 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a yield of 0.71%. Elbit Systems’s dividend payout ratio is currently 30.51%.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its position in Elbit Systems by 368.6% in the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after buying an additional 129 shares during the last quarter. Coastline Trust Co acquired a new stake in Elbit Systems in the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd purchased a new stake in Elbit Systems in the second quarter valued at approximately $35,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 84 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Elbit Systems in the second quarter valued at $143,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

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.