Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $265.79, but opened at $271.18. Elbit Systems shares last traded at $271.47, with a volume of 10,155 shares changing hands.

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, November 20th.

Elbit Systems Stock Up 2.4 %

The company has a market capitalization of $12.48 billion, a P/E ratio of 47.98 and a beta of 0.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The company has a 50 day moving average of $250.35 and a 200-day moving average of $214.77.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 23rd were given a $0.50 dividend. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Monday, December 23rd. Elbit Systems’s dividend payout ratio (DPR) is currently 28.38%.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in ESLT. Y.D. More Investments Ltd lifted its holdings in Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after buying an additional 402,512 shares during the period. Meitav Investment House Ltd. raised its position 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 worth $67,264,000 after acquiring an additional 98,440 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Elbit Systems by 253.0% in the 2nd 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. boosted its position in shares of Elbit Systems by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after purchasing an additional 18,614 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its stake in Elbit Systems by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after purchasing an additional 18,014 shares during the period. Institutional investors own 17.88% of the company’s stock.

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.