Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $265.79, but opened at $271.18. Elbit Systems shares last traded at $271.47, with a volume of 10,155 shares.

Analyst Ratings Changes

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

Elbit Systems Price Performance

The firm has a market capitalization of $12.48 billion, a PE ratio of 47.98 and a beta of 0.52. 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 business’s 50 day moving average is $250.35 and its two-hundred day moving average is $214.77.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 23rd were issued a dividend of $0.50 per share. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Monday, December 23rd. Elbit Systems’s payout ratio is currently 28.38%.

Hedge Funds Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Coastline Trust Co purchased a new position in Elbit Systems in the 3rd quarter worth $34,000. Point72 DIFC Ltd purchased a new position in shares of Elbit Systems in the second quarter worth about $35,000. Morse Asset Management Inc bought a new stake in shares of Elbit Systems in the 3rd quarter valued at about $40,000. Wilmington Savings Fund Society FSB purchased a new stake in Elbit Systems during the 3rd quarter valued at about $63,000. Finally, Avior Wealth Management LLC grew its position in Elbit Systems by 49.1% during the 3rd quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company’s stock worth $96,000 after acquiring an additional 158 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

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.