Elbit Systems Ltd (NASDAQ:ESLT) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 62,700 shares, a decline of 19.1% from the August 15th total of 77,500 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 23,900 shares, the days-to-cover ratio is currently 2.6 days.
Institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in Elbit Systems by 5.8% during the second quarter. FMR LLC now owns 1,119,384 shares of the aerospace company’s stock valued at $153,256,000 after acquiring an additional 61,436 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Elbit Systems by 6.6% during the first quarter. Parametric Portfolio Associates LLC now owns 88,040 shares of the aerospace company’s stock valued at $11,242,000 after acquiring an additional 5,454 shares during the last quarter. Phoenix Holdings Ltd. boosted its position in Elbit Systems by 3.1% during the second quarter. Phoenix Holdings Ltd. now owns 86,888 shares of the aerospace company’s stock valued at $11,289,000 after acquiring an additional 2,640 shares during the last quarter. Meitav Dash Investments Ltd. bought a new stake in Elbit Systems during the first quarter valued at $10,557,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Elbit Systems by 10.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,902 shares of the aerospace company’s stock worth $6,564,000 after purchasing an additional 4,515 shares in the last quarter. 8.75% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ESLT traded down $1.62 during trading on Wednesday, reaching $125.38. 407 shares of the stock were exchanged, compared to its average volume of 25,456. Elbit Systems has a 12 month low of $110.00 and a 12 month high of $167.75. The firm has a market cap of $5.61 billion, a PE ratio of 20.32 and a beta of 0.80. The stock has a 50-day moving average price of $134.14 and a 200-day moving average price of $133.83. The company has a current ratio of 1.28, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43.
Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Thursday, August 13th. The aerospace company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.86 by $0.16. Elbit Systems had a net margin of 6.04% and a return on equity of 14.05%. On average, sell-side analysts expect that Elbit Systems will post 6.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Tuesday, September 1st were paid a $0.44 dividend. This is a boost from Elbit Systems’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, August 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.40%.
A number of analysts recently issued reports on ESLT shares. TheStreet raised Elbit Systems from a “c+” rating to a “b-” rating in a research report on Thursday, August 13th. Zacks Investment Research cut Elbit Systems from a “hold” rating to a “sell” rating in a report on Monday, August 17th. Finally, BidaskClub cut Elbit Systems from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $166.50.
About Elbit Systems
Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; munitions; command, control, communications, computer, intelligence, surveillance, and reconnaissance and cyber systems; electronic warfare and signal intelligence systems; and commercial cyber security products.
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