Elbit Systems (NASDAQ:ESLT) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a research report released on Friday morning.

Several other equities analysts also recently weighed in on the stock. Bank of America raised their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a research note on Tuesday. They issued a “neutral” rating and a $520.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Elbit Systems in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $530.00.

Elbit Systems Stock Performance

ESLT opened at $514.99 on Friday. The firm’s fifty day simple moving average is $480.26 and its two-hundred day simple moving average is $435.49. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 58.46, a PEG ratio of 1.81 and a beta of 0.33. Elbit Systems has a 52-week low of $201.25 and a 52-week high of $527.29.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.66. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same period last year, the firm posted $2.08 earnings per share. Equities analysts anticipate that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems’s payout ratio is presently 22.70%.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors have recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in shares of Elbit Systems during the second quarter valued at about $28,000. Traub Capital Management LLC acquired a new stake in shares of Elbit Systems during the second quarter valued at about $31,000. Larson Financial Group LLC acquired a new stake in shares of Elbit Systems during the first quarter valued at about $29,000. Montag A & Associates Inc. acquired a new stake in shares of Elbit Systems during the second quarter valued at about $68,000. Finally, SBI Securities Co. Ltd. increased its position in shares of Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock valued at $59,000 after acquiring an additional 107 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

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.