Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $818.97, but opened at $864.56. Elbit Systems shares last traded at $883.7720, with a volume of 29,299 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ESLT shares. Jefferies Financial Group restated a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a report on Wednesday, May 27th. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $742.75.

Elbit Systems Trading Down 6.5%

The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $843.07 and a 200 day moving average of $745.06. The company has a market cap of $37.96 billion, a P/E ratio of 69.15, a price-to-earnings-growth ratio of 3.72 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, beating the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. On average, analysts predict that Elbit Systems Ltd. will post 15.94 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be paid a $1.00 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems’s payout ratio is currently 26.96%.

Insider Activity at Elbit Systems

In other news, EVP Jonathan Ariel sold 7,654 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ran Kril sold 6,803 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,036,982.20. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,736 shares of company stock valued at $61,883,726 in the last ninety days. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently bought and sold shares of ESLT. CoreCap Advisors LLC purchased a new stake in Elbit Systems in the fourth quarter valued at approximately $26,000. WPG Advisers LLC purchased a new position in shares of Elbit Systems during the first quarter worth approximately $26,000. Optiver Holding B.V. purchased a new position in shares of Elbit Systems during the first quarter worth approximately $46,000. Wexford Capital LP purchased a new position in shares of Elbit Systems during the third quarter worth approximately $63,000. Finally, Leonteq Securities AG purchased a new position in shares of Elbit Systems during the fourth quarter worth approximately $68,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.