Elbit Systems (NASDAQ:ESLT) Posts Quarterly Earnings Results, Beats Estimates By $0.51 EPS

Elbit Systems (NASDAQ:ESLT) announced its quarterly earnings data on Tuesday. The aerospace company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.06 by $0.51, RTT News reports. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same period in the prior year, the business earned $1.81 EPS.

Elbit Systems Price Performance

Shares of Elbit Systems stock opened at $405.40 on Tuesday. The stock’s 50-day simple moving average is $392.41 and its 200-day simple moving average is $318.20. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $426.40. The company has a market capitalization of $18.02 billion, a price-to-earnings ratio of 69.30 and a beta of 0.31. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, April 22nd. Elbit Systems’s payout ratio is presently 27.72%.

Hedge Funds Weigh In On Elbit Systems

Large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Elbit Systems by 98.9% in the first quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after buying an additional 1,225 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Elbit Systems in the first quarter worth about $353,000. NewEdge Advisors LLC lifted its position in shares of Elbit Systems by 3,461.1% in the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after buying an additional 623 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Elbit Systems by 33.7% in the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock worth $51,837,000 after buying an additional 34,049 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Elbit Systems by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock worth $6,339,000 after buying an additional 1,191 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.