Stock analysts at Chardan Capital started coverage on shares of Elbit Systems Ltd (NASDAQ:ESLT) in a note issued to investors on Friday, May 5th. The brokerage set a “neutral” rating and a $110.00 price target on the aerospace company’s stock. Chardan Capital’s price target suggests a potential downside of 7.76% from the stock’s current price.
Elbit Systems (NASDAQ:ESLT) traded up 0.81% during mid-day trading on Friday, hitting $120.21. 3,664 shares of the stock were exchanged. The company’s 50-day moving average price is $117.32 and its 200 day moving average price is $110.46. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 22.32 and a beta of 0.61. Elbit Systems has a 52 week low of $88.45 and a 52 week high of $121.22.
Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 16th. The aerospace company reported $1.21 earnings per share for the quarter. The firm had revenue of $749.19 million during the quarter. Elbit Systems had a net margin of 7.29% and a return on equity of 17.06%. Equities research analysts expect that Elbit Systems will post $6.20 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Friday, May 26th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, May 24th. Elbit Systems’s dividend payout ratio (DPR) is currently 29.41%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vident Investment Advisory LLC increased its position in shares of Elbit Systems by 28.9% in the fourth quarter. Vident Investment Advisory LLC now owns 13,563 shares of the aerospace company’s stock worth $1,368,000 after buying an additional 3,039 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Elbit Systems during the third quarter worth about $94,145,000. Envestnet Asset Management Inc. increased its position in shares of Elbit Systems by 2.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 22,818 shares of the aerospace company’s stock worth $2,325,000 after buying an additional 610 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Elbit Systems during the fourth quarter worth about $314,000. Finally, FMR LLC increased its position in shares of Elbit Systems by 190.7% in the fourth quarter. FMR LLC now owns 775,864 shares of the aerospace company’s stock worth $78,893,000 after buying an additional 508,965 shares in the last quarter. Institutional investors own 6.54% of the company’s stock.
About Elbit Systems
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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