Elbit Systems (NASDAQ:ESLT) Posts Earnings Results, Beats Estimates By $0.18 EPS

Elbit Systems (NASDAQ:ESLT) released its earnings results on Tuesday. The aerospace company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18, Zacks reports. Elbit Systems had a net margin of 3.60% and a return on equity of 10.30%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned $1.68 EPS.

Elbit Systems Stock Up 3.2 %

Shares of Elbit Systems stock opened at $211.15 on Thursday. Elbit Systems has a 52-week low of $166.35 and a 52-week high of $225.64. The company has a 50 day moving average of $208.18 and a 200 day moving average of $204.62. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $9.39 billion, a P/E ratio of 43.72 and a beta of 0.55.

Elbit Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Wednesday, April 24th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 0.95%. Elbit Systems’s dividend payout ratio (DPR) is 34.37%.

Institutional Investors Weigh In On Elbit Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Elbit Systems by 178.3% during the 1st quarter. JPMorgan Chase & Co. now owns 233,957 shares of the aerospace company’s stock worth $39,823,000 after buying an additional 149,903 shares during the last quarter. Invesco Ltd. raised its position in Elbit Systems by 78.0% in the 1st quarter. Invesco Ltd. now owns 182,503 shares of the aerospace company’s stock valued at $40,233,000 after purchasing an additional 79,955 shares during the last quarter. Bank of America Corp DE boosted its stake in Elbit Systems by 95.7% during the 1st quarter. Bank of America Corp DE now owns 158,476 shares of the aerospace company’s stock worth $26,974,000 after purchasing an additional 77,482 shares during the period. Nuveen Asset Management LLC acquired a new stake in Elbit Systems during the 4th quarter worth $14,286,000. Finally, Goldman Sachs Group Inc. grew its position in Elbit Systems by 219.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 95,592 shares of the aerospace company’s stock worth $19,975,000 after purchasing an additional 65,709 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Elbit Systems from a “hold” rating to a “buy” rating in a research note on Friday, December 1st.

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.