Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $313.82 and last traded at $312.49, with a volume of 4527 shares trading hands. The stock had previously closed at $307.15.

Analyst Upgrades and Downgrades

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

Elbit Systems Price Performance

The company has a market cap of $13.59 billion, a price-to-earnings ratio of 52.25 and a beta of 0.53. The company’s 50 day moving average price is $274.08 and its 200 day moving average price is $230.86. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Monday, December 23rd were given a $0.50 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.65%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s dividend payout ratio (DPR) is presently 28.38%.

Hedge Funds Weigh In On Elbit Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESLT. BNP Paribas Financial Markets lifted its holdings in shares of 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 buying an additional 1,690 shares during the period. Spectrum Asset Management Inc. NB CA acquired a new stake in Elbit Systems in the third quarter valued at $762,000. JPMorgan Chase & Co. lifted its holdings in Elbit Systems by 12.2% in the third 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 during the period. Stifel Financial Corp boosted its position in shares of Elbit Systems by 50.3% during the 3rd quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock worth $2,107,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of Elbit Systems by 12.1% during the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock worth $14,872,000 after purchasing an additional 8,000 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.