Elbit Systems (NASDAQ:ESLT) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 32,362 shares were traded during mid-day trading, a decline of 29% from the previous session’s volume of 45,660 shares.The stock last traded at $406.30 and had previously closed at $405.40.

The aerospace company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.27. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same period in the prior year, the company earned $1.81 EPS.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Tuesday, April 22nd were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, April 22nd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.59%. Elbit Systems’s dividend payout ratio (DPR) is currently 27.72%.

Analysts Set New Price Targets

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

Institutional Trading of Elbit Systems

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Elbit Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock worth $229,268,000 after buying an additional 10,215 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Elbit Systems by 44.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company’s stock worth $810,000 after purchasing an additional 961 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Elbit Systems during the fourth quarter worth $1,999,000. Bank of New York Mellon Corp lifted its position in shares of Elbit Systems by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock worth $11,817,000 after purchasing an additional 2,317 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Elbit Systems by 13.1% during the fourth 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 last quarter. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Performance

The firm has a market capitalization of $18.09 billion, a P/E ratio of 69.55 and a beta of 0.31. The firm has a 50-day moving average price of $393.33 and a two-hundred day moving average price of $318.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64.

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.