Elbit Systems (NASDAQ:ESLT) Raised to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a strong-buy rating in a research note published on Sunday morning.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $438.47 on Friday. The firm has a 50 day simple moving average of $405.92 and a 200 day simple moving average of $347.49. The firm has a market cap of $19.49 billion, a P/E ratio of 55.64 and a beta of 0.31. Elbit Systems has a fifty-two week low of $175.30 and a fifty-two week high of $476.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.27. Elbit Systems had a net margin of 4.95% and a return on equity of 13.49%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the business posted $1.81 earnings per share. Sell-side analysts predict that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Tuesday, June 24th. Elbit Systems’s dividend payout ratio is currently 25.38%.

Hedge Funds Weigh In On Elbit Systems

Several institutional investors have recently modified their holdings of ESLT. Hurley Capital LLC acquired a new stake in shares of Elbit Systems during the fourth quarter worth $26,000. Larson Financial Group LLC acquired a new position in shares of Elbit Systems during the 1st quarter worth approximately $29,000. Prestige Wealth Management Group LLC raised its position in shares of Elbit Systems by 150.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 75 shares during the period. Smartleaf Asset Management LLC lifted its position in Elbit Systems by 196.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 106 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

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.