Elbit Systems (NASDAQ:ESLT) Sets New 12-Month High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during trading on Tuesday . The company traded as high as $301.00 and last traded at $303.24, with a volume of 1795 shares changing hands. The stock had previously closed at $297.82.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th.

Elbit Systems Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 52.09 and a beta of 0.52. The firm has a fifty day simple moving average of $258.81 and a 200 day simple moving average of $220.79.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.66%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 23rd. Elbit Systems’s dividend payout ratio is presently 28.38%.

Institutional Trading of Elbit Systems

Several institutional investors and hedge funds have recently bought and sold shares of ESLT. Renaissance Technologies LLC increased its holdings in shares of Elbit Systems by 35.3% in the 2nd quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock valued at $3,727,000 after acquiring an additional 5,500 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Elbit Systems during the second quarter worth approximately $466,000. Altshuler Shaham Ltd lifted its position in shares of Elbit Systems by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after buying an additional 18,014 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Elbit Systems by 5.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 11,211 shares of the aerospace company’s stock valued at $1,960,000 after buying an additional 623 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Elbit Systems by 3.5% in the 2nd quarter. Bank of Montreal Can now owns 10,182 shares of the aerospace company’s stock valued at $1,798,000 after buying an additional 347 shares during the last quarter. 17.88% of the stock is currently 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.