Elbit Systems (NASDAQ:ESLT) Sees Unusually-High Trading Volume

Elbit Systems Ltd. (NASDAQ:ESLT) shares saw unusually-strong trading volume on Thursday . Approximately 19,724 shares were traded during trading, a decline of 14% from the previous session’s volume of 22,852 shares.The stock last traded at $190.94 and had previously closed at $192.07.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.66. The business’s 50-day moving average is $192.60 and its two-hundred day moving average is $195.00. The firm has a market cap of $8.55 billion, a P/E ratio of 37.84 and a beta of 0.54.

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

Elbit Systems Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in shares of Elbit Systems by 4.0% in the second quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 56 shares during the last quarter. TD Asset Management Inc boosted its holdings in Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock valued at $1,545,000 after purchasing an additional 73 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 84 shares during the period. Parallel Advisors LLC raised its position in shares of Elbit Systems by 21.2% in the fourth quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock valued at $114,000 after buying an additional 94 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Elbit Systems by 8.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,284 shares of the aerospace company’s stock valued at $270,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds 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.