Elbit Systems Ltd. (NASDAQ:ESLT – Get Rating) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 80,100 shares, a decrease of 12.5% from the July 31st total of 91,500 shares. Based on an average trading volume of 26,000 shares, the short-interest ratio is presently 3.1 days. Approximately 0.3% of the company’s shares are short sold.
Institutional Trading of Elbit Systems
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Elbit Systems by 12.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,050,536 shares of the aerospace company’s stock worth $468,220,000 after acquiring an additional 234,434 shares during the period. Vanguard Group Inc. increased its stake in shares of Elbit Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 729,282 shares of the aerospace company’s stock worth $160,770,000 after acquiring an additional 13,096 shares during the period. Meitav Dash Investments Ltd. grew its position in Elbit Systems by 2.3% during the second quarter. Meitav Dash Investments Ltd. now owns 208,014 shares of the aerospace company’s stock valued at $47,476,000 after buying an additional 4,751 shares during the period. Invesco Ltd. grew its position in Elbit Systems by 78.0% during the first quarter. Invesco Ltd. now owns 182,503 shares of the aerospace company’s stock valued at $40,233,000 after buying an additional 79,955 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Elbit Systems during the first quarter valued at $35,243,000.
Elbit Systems Stock Up 0.8 %
NASDAQ:ESLT traded up $1.59 during midday trading on Wednesday, reaching $210.47. 31,859 shares of the stock traded hands, compared to its average volume of 35,344. The business has a 50-day moving average of $222.50 and a two-hundred day moving average of $212.30. The stock has a market capitalization of $9.29 billion, a PE ratio of 39.94 and a beta of 0.61. Elbit Systems has a 12-month low of $142.20 and a 12-month high of $244.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.75 and a current ratio of 1.17.
Elbit Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Thursday, October 6th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. Elbit Systems’s dividend payout ratio is currently 31.50%.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd.
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 offers military aircraft and helicopter systems; commercial aviation systems and aerostructures; unmanned aircraft systems; electro-optic, night vision, and countermeasures systems; naval systems; land vehicle systems; munitions, such as precision munitions for land, air, and sea applications; command, control, communications, computer, intelligence, surveillance and reconnaissance, and cyber systems; electronic warfare and signal intelligence systems; and other commercial activities.