Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – What’s Next?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high during trading on Monday . The company traded as high as $266.36 and last traded at $266.36, with a volume of 1363 shares trading hands. The stock had previously closed at $257.78.

Analysts Set New Price Targets

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

Elbit Systems Stock Performance

The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 44.52 and a beta of 0.52. The stock’s 50 day moving average is $237.09 and its two-hundred day moving average is $207.33. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be paid a $0.50 dividend. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.00 annualized dividend and a yield of 0.77%. Elbit Systems’s payout ratio is presently 28.38%.

Institutional Trading of Elbit Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in ESLT. Blue Trust Inc. increased its position in shares of Elbit Systems by 368.6% in the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 129 shares during the last quarter. Coastline Trust Co bought a new position in Elbit Systems during the third quarter worth $34,000. Point72 DIFC Ltd acquired a new stake in shares of Elbit Systems during the 2nd quarter worth about $35,000. Morse Asset Management Inc bought a new stake in shares of Elbit Systems during the 3rd quarter worth about $40,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Elbit Systems in the 3rd quarter valued at about $63,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.