Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high on Monday . The stock traded as high as $288.00 and last traded at $288.00, with a volume of 2603 shares traded. The stock had previously closed at $280.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Stock Up 1.4 %

The company’s 50 day moving average price is $252.58 and its two-hundred day moving average price is $216.78. The firm has a market cap of $12.98 billion, a PE ratio of 49.92 and a beta of 0.52. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Monday, December 23rd. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s dividend payout ratio (DPR) is currently 28.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ESLT. Meitav Investment House Ltd. boosted its stake in shares of Elbit Systems by 41.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after acquiring an additional 98,440 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Elbit Systems by 253.0% during the 2nd quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after buying an additional 20,932 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Elbit Systems by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after buying an additional 18,614 shares in the last quarter. Altshuler Shaham Ltd lifted its stake in shares of Elbit Systems by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after buying an additional 18,014 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Elbit Systems during the 2nd quarter valued at $2,181,000. Hedge funds and other 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.