Elbit Systems (NASDAQ:ESLT) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $782.72 and traded as high as $791.60. Elbit Systems shares last traded at $790.00, with a volume of 155,276 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley set a $850.00 price target on Elbit Systems in a research report on Friday, October 16th. Weiss Ratings upgraded Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. lowered their price objective on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating for the company in a research report on Wednesday, August 19th. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Jefferies Financial Group reduced their target price on shares of Elbit Systems from $880.00 to $790.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Elbit Systems has a consensus rating of “Hold” and an average target price of $841.67.

Elbit Systems Stock Up 3.6%

The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $722.02 and a 200 day simple moving average of $783.24. The firm has a market capitalization of $35.89 billion, a P/E ratio of 60.84, a P/E/G ratio of 2.98 and a beta of 0.13.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.45. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. On average, equities analysts expect that Elbit Systems Ltd. will post 16.02 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, October 13th. Elbit Systems’s dividend payout ratio (DPR) is currently 25.02%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ESLT. WPG Advisers LLC bought a new stake in shares of Elbit Systems during the first quarter valued at approximately $26,000. Grove Bank & Trust lifted its position in Elbit Systems by 100.0% in the 3rd quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 25 shares in the last quarter. Fortitude Family Office LLC bought a new position in Elbit Systems in the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. purchased a new stake in Elbit Systems during the 1st quarter valued at $46,000. Finally, IFP Advisors Inc raised its stake in shares of Elbit Systems by 225.0% in the second quarter. IFP Advisors Inc now owns 65 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 45 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies a broad range of systems for military, homeland security, and commercial aviation customers. Its offerings include command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems; unmanned aerial systems; electro-optical and night-vision technologies; electronic warfare and signal intelligence solutions; and cyber-related capabilities.

The company also provides land systems, artillery and precision ammunition solutions, military vehicle systems, avionics, aircraft mission systems, training and simulation technologies, and helmet-mounted displays.