Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high during trading on Monday . The stock traded as high as $256.82 and last traded at $256.82, with a volume of 6147 shares changing hands. The stock had previously closed at $251.43.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th.

Elbit Systems Stock Performance

The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average is $231.89 and its two-hundred day moving average is $204.98. The company has a market capitalization of $11.52 billion, a P/E ratio of 42.98 and a beta of 0.52.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.00 annualized dividend and a yield of 0.77%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s dividend payout ratio is currently 28.38%.

Institutional Trading of Elbit Systems

Several hedge funds and other institutional investors have recently bought and sold shares of ESLT. Blue Trust Inc. boosted its stake in Elbit Systems by 368.6% in the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Coastline Trust Co purchased a new stake in Elbit Systems in the third quarter worth approximately $34,000. Point72 DIFC Ltd purchased a new stake in Elbit Systems in the second quarter worth approximately $35,000. Morse Asset Management Inc purchased a new stake in Elbit Systems in the third quarter worth approximately $40,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Elbit Systems in the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

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.