Elbit Systems (NASDAQ:ESLT) Shares Gap Down to $196.26

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $196.26, but opened at $189.72. Elbit Systems shares last traded at $189.71, with a volume of 4,154 shares trading hands.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Performance

The business’s 50 day simple moving average is $192.27 and its two-hundred day simple moving average is $195.48. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $8.48 billion, a P/E ratio of 38.63 and a beta of 0.54.

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, beating the consensus estimate of $1.77 by $0.31. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period in the prior year, the firm posted $1.57 EPS. Sell-side analysts anticipate that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a $0.416 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 annualized dividend and a yield of 0.87%. Elbit Systems’s payout ratio is 32.68%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its position in Elbit Systems by 110.1% in the fourth quarter. Hsbc Holdings PLC now owns 12,131 shares of the aerospace company’s stock worth $2,589,000 after purchasing an additional 6,357 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Elbit Systems by 57.5% during the first quarter. Russell Investments Group Ltd. now owns 16,007 shares of the aerospace company’s stock valued at $3,356,000 after buying an additional 5,846 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Elbit Systems by 34.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock worth $20,575,000 after acquiring an additional 24,484 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Elbit Systems by 53.7% during the 1st quarter. Advisors Asset Management Inc. now owns 10,626 shares of the aerospace company’s stock worth $2,234,000 after acquiring an additional 3,712 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of Elbit Systems during the 4th quarter valued at $993,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

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.