Elbit Systems (NASDAQ:ESLT) Posts Earnings Results, Beats Estimates By $0.18 EPS

Elbit Systems (NASDAQ:ESLT) announced its quarterly earnings data on Tuesday. The aerospace company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18, Zacks reports. Elbit Systems had a net margin of 3.60% and a return on equity of 10.30%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the company posted $1.68 earnings per share.

Elbit Systems Stock Up 3.2 %

Shares of ESLT opened at $211.15 on Thursday. The firm has a market capitalization of $9.39 billion, a P/E ratio of 43.72 and a beta of 0.55. Elbit Systems has a 12-month low of $166.35 and a 12-month high of $225.64. The firm has a fifty day moving average price of $208.18 and a 200-day moving average price of $204.62. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 0.13.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. Elbit Systems’s payout ratio is 34.37%.

Hedge Funds Weigh In On Elbit Systems

Institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new position in Elbit Systems during the 2nd quarter valued at about $53,000. LM Advisors LLC purchased a new position in Elbit Systems during the fourth quarter valued at approximately $53,000. Tower Research Capital LLC TRC lifted its holdings in Elbit Systems by 30.1% during the second quarter. Tower Research Capital LLC TRC now owns 324 shares of the aerospace company’s stock worth $68,000 after buying an additional 75 shares during the period. Captrust Financial Advisors boosted its position in Elbit Systems by 14.9% during the 1st quarter. Captrust Financial Advisors now owns 695 shares of the aerospace company’s stock valued at $153,000 after acquiring an additional 90 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Elbit Systems by 135.5% in the 4th quarter. Advisors Asset Management Inc. now owns 1,227 shares of the aerospace company’s stock valued at $201,000 after acquiring an additional 706 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

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.