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 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. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 34,300 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Elbit Systems

Large investors have recently made changes to their positions in the business. Spectrum Asset Management Inc. NB CA purchased a new position in shares of Elbit Systems during the third quarter valued at approximately $762,000. BNP Paribas Financial Markets lifted its position in Elbit Systems by 99.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock valued at $678,000 after acquiring an additional 1,690 shares in the last quarter. Stifel Financial Corp lifted its position in Elbit Systems by 50.3% in the 3rd quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock valued at $2,107,000 after acquiring an additional 3,524 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Elbit Systems by 12.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after acquiring an additional 18,614 shares in the last quarter. Finally, Systematic Financial Management LP lifted its position in Elbit Systems by 12.1% in the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock valued at $14,872,000 after acquiring an additional 8,000 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Up 1.3 %

Elbit Systems stock traded up $3.91 during trading hours on Monday, hitting $297.82. 35,565 shares of the stock traded hands, compared to its average volume of 42,776. The firm’s 50-day moving average price is $257.56 and its two-hundred day moving average price is $219.99. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The company has a market cap of $13.24 billion, a PE ratio of 50.91 and a beta of 0.52. Elbit Systems has a one year low of $175.30 and a one year high of $298.83.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend 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 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.