Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $269.22 and last traded at $269.22, with a volume of 5351 shares traded. The stock had previously closed at $261.47.

Analyst Upgrades and Downgrades

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

Elbit Systems Trading Up 3.1 %

The firm has a market capitalization of $12.18 billion, a price-to-earnings ratio of 46.85 and a beta of 0.52. The business’s 50-day simple moving average is $249.43 and its two-hundred day simple moving average is $214.36. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 23rd. This is a boost 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 0.73%. Elbit Systems’s dividend payout ratio (DPR) is currently 28.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp grew its holdings in shares of Elbit Systems by 4.0% in the second quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Elbit Systems by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,987 shares of the aerospace company’s stock valued at $598,000 after purchasing an additional 72 shares in the last quarter. TD Asset Management Inc lifted its stake in Elbit Systems by 0.8% in the second quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock worth $1,545,000 after acquiring an additional 73 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Elbit Systems by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company’s stock worth $2,482,000 after acquiring an additional 92 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Elbit Systems by 8.8% in the third quarter. Sequoia Financial Advisors LLC now owns 1,421 shares of the aerospace company’s stock worth $284,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds 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.