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

Elbit Systems Ltd. (NASDAQ:ESLT) shares gapped down prior to trading on Monday . The stock had previously closed at $410.83, but opened at $397.27. Elbit Systems shares last traded at $396.37, with a volume of 23,223 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Elbit Systems Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The company has a 50-day moving average of $321.05 and a 200-day moving average of $262.22. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 68.38 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion. As a group, research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.60%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio is 27.72%.

Hedge Funds Weigh In On Elbit Systems

A number of large investors have recently bought and sold shares of the company. Laird Norton Wetherby Wealth Management LLC boosted its position in Elbit Systems by 2.9% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company’s stock worth $540,000 after acquiring an additional 60 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Elbit Systems by 7.3% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the aerospace company’s stock valued at $255,000 after buying an additional 67 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Elbit Systems by 1.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock valued at $1,031,000 after buying an additional 69 shares during the last quarter. Prestige Wealth Management Group LLC boosted its holdings in shares of Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock valued at $32,000 after buying an additional 75 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Elbit Systems by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company’s stock valued at $2,482,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds 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.