Elbit Systems (NASDAQ:ESLT) Shares Gap Down – Here’s What Happened

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped down before the market opened on Thursday . The stock had previously closed at $262.29, but opened at $256.31. Elbit Systems shares last traded at $255.70, with a volume of 5,535 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of 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 fifty day moving average price is $242.06 and its 200-day moving average price is $209.66. The company has a market cap of $11.44 billion, a P/E ratio of 43.99 and a beta of 0.52. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.78%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 23rd. Elbit Systems’s payout ratio is currently 28.38%.

Institutional Trading of Elbit Systems

Several institutional investors have recently modified their holdings of ESLT. Coastline Trust Co acquired a new position in shares of Elbit Systems in the third quarter valued at $34,000. Point72 DIFC Ltd acquired a new position in shares of Elbit Systems in the 2nd quarter valued at $35,000. Morse Asset Management Inc bought a new position in shares of Elbit Systems during the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elbit Systems during the 3rd quarter valued at about $63,000. Finally, Avior Wealth Management LLC increased its stake in Elbit Systems by 49.1% in the third quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company’s stock valued at $96,000 after acquiring an additional 158 shares during the period. 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.