Short Interest in Elbit Systems Ltd. (NASDAQ:ESLT) Increases By 64.0%

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 177,836 shares, an increase of 64.0% from the December 31st total of 108,462 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 150,843 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 150,843 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have commented on ESLT shares. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Morgan Stanley started coverage on shares of Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective for the company. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upped their price objective on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $550.33.

Elbit Systems Trading Down 2.7%

Shares of ESLT stock traded down $19.21 on Friday, hitting $702.57. 111,816 shares of the stock traded hands, compared to its average volume of 128,764. The firm’s 50-day moving average price is $594.84 and its two-hundred day moving average price is $519.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. The stock has a market capitalization of $31.23 billion, a PE ratio of 71.40, a PEG ratio of 2.19 and a beta of 0.22. Elbit Systems has a twelve month low of $294.99 and a twelve month high of $740.67.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. As a group, analysts anticipate that Elbit Systems will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 22nd. Elbit Systems’s dividend payout ratio (DPR) is presently 22.87%.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of Elbit Systems by 98.9% in the first quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock valued at $946,000 after purchasing an additional 1,225 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Elbit Systems during the first quarter worth about $353,000. NewEdge Advisors LLC raised its stake in shares of Elbit Systems by 3,461.1% in the 1st quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock valued at $246,000 after acquiring an additional 623 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Elbit Systems by 33.7% in the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after buying an additional 34,049 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Elbit Systems by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock worth $6,339,000 after buying an additional 1,191 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.