Elbit Systems (NASDAQ:ESLT) Hits New 12-Month High – Time to Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) hit a new 52-week high on Monday . The company traded as high as $253.23 and last traded at $252.51, with a volume of 7389 shares trading hands. The stock had previously closed at $250.11.

Analysts Set New Price Targets

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 Stock Performance

The firm’s 50 day simple moving average is $217.23 and its 200 day simple moving average is $199.99. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 43.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.79%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 23rd. Elbit Systems’s dividend payout ratio is presently 28.38%.

Hedge Funds Weigh In On Elbit Systems

Several institutional investors and hedge funds have recently modified their holdings of ESLT. Mackenzie Financial Corp raised its position in Elbit Systems by 4.0% during the second quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock valued at $253,000 after acquiring an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Elbit Systems by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,987 shares of the aerospace company’s stock valued at $598,000 after purchasing an additional 72 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock valued at $1,545,000 after purchasing an additional 73 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Elbit Systems by 0.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company’s stock valued at $2,482,000 after purchasing an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Elbit Systems by 8.8% during the third quarter. Sequoia Financial Advisors LLC now owns 1,421 shares of the aerospace company’s stock worth $284,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds 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.