Elbit Systems Ltd. (NASDAQ:ESLT) Sees Significant Increase in Short Interest

Elbit Systems Ltd. (NASDAQ:ESLT) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 123,363 shares, an increase of 29.0% from the November 30th total of 95,594 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 90,502 shares, the short-interest ratio is presently 1.4 days. Based on an average daily trading volume, of 90,502 shares, the short-interest ratio is presently 1.4 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Elbit Systems by 4.8% in the third quarter. Vanguard Group Inc. now owns 984,861 shares of the aerospace company’s stock valued at $501,042,000 after acquiring an additional 45,073 shares during the last quarter. Van ECK Associates Corp grew its stake in Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after purchasing an additional 158,689 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock worth $246,121,000 after purchasing an additional 12,003 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its holdings in shares of Elbit Systems by 27.7% in the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after buying an additional 82,103 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Price Performance

ESLT stock opened at $579.00 on Wednesday. The stock has a 50-day moving average price of $499.45 and a two-hundred day moving average price of $480.85. Elbit Systems has a 1 year low of $258.07 and a 1 year high of $586.34. The stock has a market cap of $25.74 billion, a PE ratio of 58.84, a price-to-earnings-growth ratio of 2.00 and a beta of 0.24. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. Equities analysts forecast that Elbit Systems will post 8.05 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 22nd. Elbit Systems’s payout ratio is currently 22.87%.

Analyst Ratings Changes

ESLT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Elbit Systems in a research report on Monday. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Morgan Stanley assumed coverage on shares of Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target for the company. Finally, Wall Street Zen downgraded Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Elbit Systems currently has a consensus rating of “Hold” and an average price target of $550.33.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.