Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Down 46.5% in May

Elbit Systems Ltd. (NASDAQ:ESLT) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 103,811 shares, a decrease of 46.5% from the May 14th total of 194,138 shares. Based on an average trading volume of 154,389 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company’s stock are short sold.

Insider Transactions at Elbit Systems

In other news, EVP Jonathan Ariel sold 7,654 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Haim Daniel Delmar sold 7,654 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is owned by insiders.

Institutional Trading of Elbit Systems

A number of large investors have recently added to or reduced their stakes in the stock. Pinpoint Asset Management Singapore Pte. Ltd. increased its stake in shares of Elbit Systems by 296.0% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock worth $3,553,000 after purchasing an additional 5,210 shares in the last quarter. ARK Investment Management LLC increased its stake in shares of Elbit Systems by 11.6% in the third quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock worth $27,309,000 after purchasing an additional 5,550 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after purchasing an additional 628,236 shares in the last quarter. Cadent Capital Advisors LLC purchased a new position in shares of Elbit Systems in the fourth quarter worth about $1,493,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Elbit Systems by 709.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company’s stock worth $50,948,000 after purchasing an additional 77,192 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Performance

NASDAQ ESLT traded down $59.14 during trading hours on Friday, reaching $854.06. 107,539 shares of the company were exchanged, compared to its average volume of 116,952. Elbit Systems has a 1 year low of $415.90 and a 1 year high of $1,016.06. The business’s 50 day simple moving average is $843.07 and its 200-day simple moving average is $745.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $37.97 billion, a P/E ratio of 69.15, a P/E/G ratio of 3.48 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. On average, equities research analysts expect that Elbit Systems will post 15.72 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 23rd will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio (DPR) is 26.88%.

Wall Street Analysts Forecast Growth

ESLT has been the subject of several analyst reports. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. increased their price objective on shares of Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $950.00 price objective on shares of Elbit Systems in a research note 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $742.75.

About Elbit Systems

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.