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

Elbit Systems Ltd. (NASDAQ:ESLT) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 107,000 shares, a growth of 8.4% from the December 31st total of 98,700 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Meitav Investment House Ltd. grew its stake in shares of Elbit Systems by 41.3% during the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after purchasing an additional 98,440 shares during the period. Y.D. More Investments Ltd raised its stake in Elbit Systems by 10.1% during the fourth quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock worth $117,520,000 after buying an additional 41,401 shares during the last quarter. Millennium Management LLC grew its position in Elbit Systems by 253.0% in the 2nd quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares during the period. JPMorgan Chase & Co. raised 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 worth $34,158,000 after purchasing an additional 18,614 shares during the period. Finally, Marshall Wace LLP purchased a new position in Elbit Systems during the second quarter valued at approximately $2,181,000. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Stock Down 0.8 %

ESLT stock opened at $303.21 on Tuesday. The company has a market cap of $13.48 billion, a P/E ratio of 51.83 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. The company’s 50-day moving average price is $270.43 and its 200 day moving average price is $228.88. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $308.96.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 annualized dividend and a yield of 0.66%. Elbit Systems’s dividend payout ratio (DPR) is currently 28.38%.

Analysts Set New Price Targets

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

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.