Elbit Systems (NASDAQ:ESLT) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

Elbit Systems (NASDAQ:ESLT) announced its quarterly earnings data on Tuesday. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.27, RTT News reports. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $1.81 earnings per share.

Elbit Systems Price Performance

Shares of ESLT traded up $1.44 on Tuesday, hitting $406.84. The company’s stock had a trading volume of 115,763 shares, compared to its average volume of 45,912. The company has a 50 day moving average price of $392.41 and a 200 day moving average price of $318.20. 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 has a fifty-two week low of $175.30 and a fifty-two week high of $426.40. The company has a market capitalization of $18.09 billion, a PE ratio of 69.55 and a beta of 0.31.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd were given a $0.60 dividend. The ex-dividend date was 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 0.59%. Elbit Systems’s payout ratio is 27.72%.

Institutional Investors Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake 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 valued at $51,837,000 after acquiring an additional 34,049 shares in the last quarter. Royal Bank of Canada grew its position in shares of Elbit Systems by 98.9% during the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after purchasing an additional 1,225 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Elbit Systems by 7.8% during 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 purchasing an additional 1,191 shares during the period. AQR Capital Management LLC bought a new position in shares of Elbit Systems during the first quarter worth approximately $353,000. Finally, NewEdge Advisors LLC raised 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 valued at $246,000 after buying an additional 623 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.