Elbit Systems (NASDAQ:ESLT) Sees Large Volume Increase – Here’s Why

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) saw unusually-high trading volume on Wednesday . Approximately 31,283 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 34,288 shares.The stock last traded at $400.17 and had previously closed at $405.01.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The business’s 50 day moving average price is $325.46 and its 200-day moving average price is $265.04. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 68.06 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. Equities analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, April 22nd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s payout ratio is currently 27.72%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its stake in Elbit Systems by 177.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock worth $59,207,000 after acquiring an additional 145,324 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of Elbit Systems by 10.1% during the fourth quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock valued at $117,520,000 after purchasing an additional 41,401 shares during the last quarter. Invesco Ltd. raised its position in shares of Elbit Systems by 13.1% during the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock worth $87,294,000 after purchasing an additional 39,095 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Elbit Systems by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after purchasing an additional 18,614 shares during the last quarter. Finally, FIL Ltd acquired a new position in Elbit Systems during the 4th quarter valued at approximately $4,616,000. 17.88% of the stock is currently owned by institutional investors.

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.