Elbit Systems (NASDAQ:ESLT) Shares Gap Down to $196.26

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $196.26, but opened at $189.72. Elbit Systems shares last traded at $189.71, with a volume of 4,154 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th.

Elbit Systems Trading Down 2.7 %

The stock has a fifty day simple moving average of $192.27 and a 200 day simple moving average of $195.48. The firm has a market capitalization of $8.48 billion, a P/E ratio of 38.63 and a beta of 0.54. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the firm earned $1.57 EPS. As a group, research analysts forecast that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Elbit Systems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.87%. Elbit Systems’s dividend payout ratio is 32.68%.

Institutional Investors Weigh In On Elbit Systems

Several large investors have recently made changes to their positions in ESLT. Y.D. More Investments Ltd increased its position in Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after purchasing an additional 402,512 shares during the last quarter. Heard Capital LLC bought a new stake in Elbit Systems during the fourth quarter worth approximately $26,428,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Elbit Systems in the 1st quarter valued at approximately $10,893,000. Meitav Investment House Ltd. boosted its holdings in shares of Elbit Systems by 13.2% in the 2nd quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock worth $42,117,000 after purchasing an additional 27,851 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Elbit Systems by 34.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after purchasing an additional 24,484 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

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.