Elbit Systems Ltd. (ESLT) to Issue Quarterly Dividend of $0.50 on May 6th

Elbit Systems Ltd. (NASDAQ:ESLT) announced a quarterly dividend on Monday, March 25th, Wall Street Journal reports. Investors of record on Wednesday, April 24th will be paid a dividend of 0.50 per share by the aerospace company on Monday, May 6th. This represents a $2.00 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Elbit Systems has raised its dividend by an average of 14.4% annually over the last three years. Elbit Systems has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Elbit Systems to earn $7.90 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 25.3%.

Elbit Systems Trading Up 0.6 %

Shares of ESLT stock opened at $201.49 on Friday. Elbit Systems has a 1-year low of $173.01 and a 1-year high of $225.64. The firm has a market cap of $8.96 billion, a PE ratio of 41.72 and a beta of 0.55. The company has a 50-day moving average of $206.96 and a two-hundred day moving average of $204.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.14 and a quick ratio of 0.67.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, March 26th. The aerospace company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Elbit Systems had a net margin of 3.60% and a return on equity of 10.16%. During the same quarter last year, the company posted $1.68 EPS. On average, analysts predict that Elbit Systems will post 6.33 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ESLT. JPMorgan Chase & Co. lifted its stake in 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 acquiring an additional 149,903 shares in the last quarter. Invesco Ltd. increased its stake in Elbit Systems by 78.0% during the first quarter. Invesco Ltd. now owns 182,503 shares of the aerospace company’s stock worth $40,233,000 after purchasing an additional 79,955 shares during the period. Bank of America Corp DE lifted its position in shares of Elbit Systems by 95.7% during the first 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 in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Elbit Systems in the fourth quarter valued at approximately $14,286,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Elbit Systems by 219.9% in the second quarter. Goldman Sachs Group Inc. now owns 95,592 shares of the aerospace company’s stock valued at $19,975,000 after purchasing an additional 65,709 shares during the period. 17.88% of the stock is currently owned by hedge funds and other 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.