Elbit Systems (NASDAQ:ESLT) Shares Gap Down to $196.26

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped down prior to trading on Tuesday . The stock had previously closed at $196.26, but opened at $189.72. Elbit Systems shares last traded at $189.71, with a volume of 4,154 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th.

Elbit Systems Trading Down 0.1 %

The company has a market cap of $8.54 billion, a price-to-earnings ratio of 37.81 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $192.36 and its two-hundred day moving average price is $195.25.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same period in the prior year, the business earned $1.57 earnings per share. Research analysts expect that Elbit Systems Ltd. will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be given a $0.416 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a yield of 0.87%. Elbit Systems’s payout ratio is 32.68%.

Institutional Investors Weigh In On Elbit Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd increased its position in Elbit Systems by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after purchasing an additional 18,014 shares during the period. Vanguard Group Inc. grew its position in shares of Elbit Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company’s stock worth $174,597,000 after buying an additional 11,643 shares during the period. Y.D. More Investments Ltd raised its stake in shares of Elbit Systems by 32,724.6% during the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after buying an additional 402,512 shares during the last quarter. Meitav Investment House Ltd. lifted its holdings in Elbit Systems by 13.2% in the second quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock valued at $42,117,000 after buying an additional 27,851 shares during the period. Finally, Heard Capital LLC bought a new position in Elbit Systems in the fourth quarter valued at approximately $26,428,000. 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.