Elbit Systems (NASDAQ:ESLT) Sees Large Volume Increase – Time to Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) saw unusually-strong trading volume on Wednesday . Approximately 31,283 shares changed hands during trading, a decline of 9% from the previous session’s volume of 34,288 shares.The stock last traded at $400.17 and had previously closed at $405.01.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Elbit Systems Trading Down 2.0 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The business’s 50-day simple moving average is $325.46 and its two-hundred day simple moving average is $265.04. The stock has a market capitalization of $17.64 billion, a price-to-earnings ratio of 68.06 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, research analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, April 22nd. This is a boost from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio is currently 27.72%.

Institutional Trading of Elbit Systems

Hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in Elbit Systems by 16.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,765 shares of the aerospace company’s stock valued at $455,000 after purchasing an additional 251 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Elbit Systems by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock valued at $1,031,000 after acquiring an additional 69 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Elbit Systems during the fourth quarter worth about $1,479,000. Squarepoint Ops LLC lifted its stake in shares of Elbit Systems by 105.8% in the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 14,796 shares in the last quarter. Finally, Sig Brokerage LP purchased a new position in Elbit Systems in the fourth quarter valued at about $591,000. Hedge funds and other 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.