Elbit Systems (NASDAQ:ESLT) Hits New 52-Week High – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $241.70 and last traded at $241.70, with a volume of 6753 shares changing hands. The stock had previously closed at $235.14.

Wall Street Analysts Forecast Growth

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

Elbit Systems Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The firm has a fifty day simple moving average of $214.04 and a 200 day simple moving average of $198.95. The company has a market capitalization of $11.05 billion, a PE ratio of 45.71 and a beta of 0.51.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s dividend payout ratio (DPR) is currently 30.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Elbit Systems by 368.6% in the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 129 shares during the period. Coastline Trust Co bought a new stake in Elbit Systems during the 3rd quarter valued at $34,000. Point72 DIFC Ltd purchased a new position in shares of Elbit Systems in the 2nd quarter valued at $35,000. Morse Asset Management Inc bought a new position in Elbit Systems in the third quarter worth about $40,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 84 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.