Elbit Systems (NASDAQ:ESLT) Posts Quarterly Earnings Results, Beats Estimates By $0.60 EPS

Elbit Systems (NASDAQ:ESLT - Get Free Report) posted its quarterly earnings data on Tuesday. The aerospace company reported $3.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $0.60, Zacks reports. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The firm had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.99 billion.

Elbit Systems Stock Up 0.2%

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Shares of NASDAQ:ESLT opened at $504.05 on Wednesday. The business's 50 day moving average is $493.26 and its 200 day moving average is $458.33. The stock has a market cap of $22.41 billion, a P/E ratio of 57.21, a price-to-earnings-growth ratio of 1.74 and a beta of 0.30. Elbit Systems has a 52-week low of $241.65 and a 52-week high of $529.99. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, December 22nd. Elbit Systems's dividend payout ratio is currently 28.26%.

Hedge Funds Weigh In On Elbit Systems

• Elbit Systems Jumps on Record Earnings and a $1.6B Contract

A number of large investors have recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new stake in Elbit Systems during the 3rd quarter worth approximately $63,000. EverSource Wealth Advisors LLC raised its holdings in shares of Elbit Systems by 57.8% in the second quarter. EverSource Wealth Advisors LLC now owns 232 shares of the aerospace company's stock worth $104,000 after buying an additional 85 shares during the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in shares of Elbit Systems during the third quarter worth $208,000. NewEdge Advisors LLC grew its holdings in shares of Elbit Systems by 3,461.1% during the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company's stock valued at $246,000 after buying an additional 623 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Elbit Systems during the third quarter valued at $256,000. 17.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ESLT has been the subject of several research analyst reports. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. assumed coverage on shares of Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price objective for the company. Zacks Research downgraded shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 12th. Weiss Ratings restated a "hold (c)" rating on shares of Elbit Systems in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $530.00.

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Get Our Latest Report on Elbit Systems

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.

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