Elbit Systems (NASDAQ:ESLT) Sets New 52-Week High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high on Wednesday . The stock traded as high as $313.82 and last traded at $312.49, with a volume of 4527 shares. The stock had previously closed at $307.15.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Down 2.0 %

The business’s 50 day moving average is $274.08 and its 200-day moving average is $230.86. 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 cap of $13.59 billion, a PE ratio of 52.25 and a beta of 0.53.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.65%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s payout ratio is presently 28.38%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Y.D. More Investments Ltd lifted its position in Elbit Systems by 10.1% in the fourth quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock valued at $117,520,000 after acquiring an additional 41,401 shares during the last quarter. Meitav Investment House Ltd. increased its position in shares of Elbit Systems by 41.3% during the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after purchasing an additional 98,440 shares in the last quarter. Heard Capital LLC lifted its holdings in shares of Elbit Systems by 4.8% in the 3rd quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after purchasing an additional 10,070 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Elbit Systems by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after buying an additional 18,614 shares during the last quarter. Finally, Swiss National Bank increased its position in Elbit Systems by 0.5% during the third quarter. Swiss National Bank now owns 79,626 shares of the aerospace company’s stock worth $15,896,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

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.