Elbit Systems (NASDAQ:ESLT) Shares Down 5.3% – Time to Sell?

Elbit Systems Ltd. (NASDAQ:ESLT) shares fell 5.3% during trading on Friday . The company traded as low as $861.48 and last traded at $864.4140. 10,113 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 147,873 shares. The stock had previously closed at $913.20.

Analysts Set New Price Targets

A number of research firms have recently commented on ESLT. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. raised their price target on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, Jefferies Financial Group restated a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Elbit Systems presently has a consensus rating of “Moderate Buy” and an average price target of $742.75.

Elbit Systems Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. The company has a market capitalization of $37.96 billion, a PE ratio of 69.15, a P/E/G ratio of 3.48 and a beta of 0.14. The company’s 50-day simple moving average is $843.07 and its 200-day simple moving average is $745.06.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. As a group, sell-side analysts anticipate that Elbit Systems Ltd. will post 15.72 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio (DPR) is 26.96%.

Insider Buying and Selling

In other Elbit Systems news, EVP Haim Daniel Delmar sold 7,654 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. WPG Advisers LLC purchased a new position in shares of Elbit Systems in the 1st quarter valued at approximately $26,000. CoreCap Advisors LLC purchased a new position in shares of Elbit Systems in the 4th quarter valued at approximately $26,000. Optiver Holding B.V. purchased a new position in shares of Elbit Systems in the 1st quarter valued at approximately $46,000. Archer Investment Corp purchased a new position in shares of Elbit Systems in the 1st quarter valued at approximately $85,000. Finally, Leonteq Securities AG purchased a new position in shares of Elbit Systems in the 4th quarter valued at approximately $68,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

About Elbit Systems

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.