Elbit Systems (NASDAQ:ESLT) Reaches New 12-Month High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $313.82 and last traded at $312.49, with a volume of 4527 shares traded. The stock had previously closed at $307.15.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Up 1.3 %

The firm has a market cap of $13.83 billion, a PE ratio of 53.19 and a beta of 0.53. 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 business has a 50-day moving average price of $271.51 and a two-hundred day moving average price of $229.76.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.64%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 23rd. Elbit Systems’s payout ratio is 28.38%.

Institutional Investors Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Meitav Investment House Ltd. lifted its stake in shares of Elbit Systems by 41.3% in the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after purchasing an additional 98,440 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Elbit Systems by 10.1% in the 4th quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock valued at $117,520,000 after acquiring an additional 41,401 shares during the period. Millennium Management LLC raised its position in Elbit Systems by 253.0% in the second quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Elbit Systems by 12.2% in the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after buying an additional 18,614 shares in the last quarter. Finally, Heard Capital LLC grew its position in Elbit Systems by 4.8% in the third quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after acquiring an additional 10,070 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other 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.