Elbit Systems (NASDAQ:ESLT) Sees Large Volume Increase – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) shares saw strong trading volume on Wednesday . 31,283 shares were traded during trading, a decline of 9% from the previous session’s volume of 34,288 shares.The stock last traded at $400.17 and had previously closed at $405.01.

Analyst Ratings Changes

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

Elbit Systems Stock Performance

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 firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 67.09 and a beta of 0.53. The stock has a fifty day moving average price of $329.41 and a 200-day moving average price of $266.81.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share 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 $0.60 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. Elbit Systems’s payout ratio is 27.72%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Elbit Systems by 99.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock worth $678,000 after acquiring an additional 1,690 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Elbit Systems by 12.2% during the third 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 last quarter. Stifel Financial Corp increased its stake in shares of Elbit Systems by 50.3% in the third quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock valued at $2,107,000 after buying an additional 3,524 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Elbit Systems by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock valued at $11,817,000 after buying an additional 2,317 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in Elbit Systems by 12.1% during the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock worth $14,872,000 after buying an additional 8,000 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

About Elbit Systems

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.