Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s What Happened

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up prior to trading on Wednesday . The stock had previously closed at $265.79, but opened at $271.18. Elbit Systems shares last traded at $271.47, with a volume of 10,155 shares trading hands.

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 note on Wednesday, November 20th.

Elbit Systems Stock Performance

The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 46.62 and a beta of 0.52. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $248.51 and its 200 day simple moving average is $213.94.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were paid 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 0.73%. Elbit Systems’s payout ratio is 28.38%.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds have recently bought and sold shares of ESLT. Coastline Trust Co bought a new stake in Elbit Systems during the third quarter worth about $34,000. Point72 DIFC Ltd acquired a new stake in shares of Elbit Systems during the 2nd quarter worth approximately $35,000. Morse Asset Management Inc bought a new position in Elbit Systems in the third quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB acquired a new position in Elbit Systems during the third quarter valued at approximately $63,000. Finally, Avior Wealth Management LLC lifted its stake in Elbit Systems by 49.1% during the third quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company’s stock worth $96,000 after purchasing an additional 158 shares during the last quarter. 17.88% of the stock is owned by 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.