Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $269.22 and last traded at $269.22, with a volume of 5351 shares. The stock had previously closed at $261.47.

Analysts Set New Price Targets

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

Elbit Systems Stock Up 2.4 %

The business has a 50 day simple moving average of $247.75 and a 200 day simple moving average of $213.34. The stock has a market cap of $11.90 billion, a PE ratio of 45.76 and a beta of 0.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were issued a $0.50 dividend. The ex-dividend date was Monday, December 23rd. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 0.75%. Elbit Systems’s dividend payout ratio is currently 28.38%.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESLT. Coastline Trust Co acquired a new position in shares of Elbit Systems during the 3rd quarter worth about $34,000. Point72 DIFC Ltd acquired a new stake in shares of Elbit Systems in the second quarter worth $35,000. Morse Asset Management Inc bought a new stake in Elbit Systems in the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Elbit Systems during the third quarter valued at about $63,000. Finally, Avior Wealth Management LLC grew its position 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 buying an additional 158 shares in 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.