Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Up 8.4% in December

Elbit Systems Ltd. (NASDAQ:ESLT) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 107,000 shares, an increase of 8.4% from the December 15th total of 98,700 shares. Based on an average daily volume of 34,300 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Elbit Systems

A number of large investors have recently added to or reduced their stakes in ESLT. Coastline Trust Co purchased a new position in Elbit Systems in the 3rd quarter valued at about $34,000. Point72 DIFC Ltd purchased a new position in Elbit Systems in the 2nd quarter valued at about $35,000. Morse Asset Management Inc purchased a new position in Elbit Systems in the 3rd quarter valued at about $40,000. Wilmington Savings Fund Society FSB purchased a new position in Elbit Systems in the 3rd quarter valued at about $63,000. Finally, Avior Wealth Management LLC lifted its holdings in Elbit Systems by 49.1% in the 3rd quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company’s stock valued at $96,000 after purchasing an additional 158 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Price Performance

Shares of NASDAQ ESLT opened at $297.82 on Tuesday. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 50.91 and a beta of 0.52. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $298.83. The company’s 50-day moving average price is $258.81 and its 200 day moving average price is $220.79. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.67%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 23rd. Elbit Systems’s dividend payout ratio is presently 28.38%.

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.