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

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

Elbit Systems Stock Down 0.4 %

ESLT opened at $210.23 on Friday. The firm has a market cap of $9.34 billion, a P/E ratio of 43.53 and a beta of 0.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.64 and a current ratio of 1.12. The business has a 50 day moving average price of $208.25 and a 200 day moving average price of $204.66. Elbit Systems has a twelve month low of $166.35 and a twelve month high of $225.64.

Elbit Systems Announces Dividend

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

Hedge Funds Weigh In On Elbit Systems

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

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.