Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Time to Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) shares gapped up before the market opened on Tuesday . The stock had previously closed at $767.82, but opened at $857.49. Elbit Systems shares last traded at $839.48, with a volume of 85,837 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ESLT shares. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. raised their price objective on Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $667.00.

Elbit Systems Stock Up 7.5%

The company’s fifty day moving average price is $857.38 and its 200-day moving average price is $710.31. The stock has a market cap of $36.69 billion, a P/E ratio of 72.66, a price-to-earnings-growth ratio of 3.22 and a beta of 0.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.33. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.09 billion. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. Equities analysts forecast that Elbit Systems Ltd. will post 15.47 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 13th were issued a $1.00 dividend. This is a boost from Elbit Systems’s previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 13th. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems’s dividend payout ratio (DPR) is 29.31%.

Insider Transactions at Elbit Systems

In other news, CEO Bezhalel Machlis sold 25,514 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $22,641,123.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ran Kril sold 6,803 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,036,982.20. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESLT. CoreCap Advisors LLC bought a new stake in Elbit Systems during the 4th quarter valued at about $26,000. WPG Advisers LLC bought a new stake in Elbit Systems during the 1st quarter valued at about $26,000. Wexford Capital LP bought a new stake in Elbit Systems during the 3rd quarter valued at about $63,000. Leonteq Securities AG bought a new stake in Elbit Systems during the 4th quarter valued at about $68,000. Finally, Hilton Head Capital Partners LLC bought a new stake in shares of Elbit Systems in the 4th quarter valued at about $69,000. Institutional investors own 17.88% of the company’s stock.

About Elbit Systems

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.