Elbit Systems Ltd. (NASDAQ:ESLT) Short Interest Down 24.7% in March

Elbit Systems Ltd. (NASDAQ:ESLT) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 140,500 shares, a drop of 24.7% from the March 15th total of 186,600 shares. Based on an average daily volume of 64,900 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.6% of the company’s shares are short sold.

Elbit Systems Stock Up 0.3 %

NASDAQ ESLT traded up $1.16 on Friday, reaching $406.22. The company had a trading volume of 45,139 shares, compared to its average volume of 38,689. The firm has a market capitalization of $18.06 billion, a PE ratio of 69.44 and a beta of 0.32. The firm has a 50-day moving average of $360.93 and a 200-day moving average of $291.12. Elbit Systems has a 1 year low of $175.30 and a 1 year high of $420.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. On average, equities research analysts anticipate that Elbit Systems will post 8.05 EPS 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. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hurley Capital LLC bought a new position in Elbit Systems during the fourth quarter worth $26,000. Prestige Wealth Management Group LLC grew its position in Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 75 shares during the last quarter. Morse Asset Management Inc acquired a new stake in shares of Elbit Systems in the third quarter valued at approximately $40,000. Sierra Ocean LLC acquired a new position in shares of Elbit Systems during the fourth quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC grew its holdings in Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock worth $41,000 after buying an additional 106 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.