Elbit Systems (NASDAQ:ESLT) Cut to Buy at BidaskClub

BidaskClub cut shares of Elbit Systems (NASDAQ:ESLT) from a strong-buy rating to a buy rating in a report released on Tuesday morning, BidAskClub reports.

Shares of ESLT opened at $155.00 on Tuesday. Elbit Systems has a one year low of $109.81 and a one year high of $150.90. The stock has a market capitalization of $6.45 billion, a PE ratio of 23.47 and a beta of 0.79. The company has a quick ratio of 0.73, a current ratio of 1.10 and a debt-to-equity ratio of 0.26.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.46. Elbit Systems had a net margin of 5.34% and a return on equity of 14.75%. The company had revenue of $1.02 billion during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, June 6th.

Several hedge funds and other institutional investors have recently bought and sold shares of ESLT. Penserra Capital Management LLC acquired a new stake in shares of Elbit Systems during the 4th quarter worth about $26,000. Bremer Trust National Association acquired a new stake in shares of Elbit Systems during the 4th quarter worth about $30,000. Bremer Bank National Association acquired a new stake in shares of Elbit Systems during the 1st quarter worth about $34,000. PRW Wealth Management LLC acquired a new stake in shares of Elbit Systems during the 4th quarter worth about $63,000. Finally, SG Americas Securities LLC lifted its stake in shares of Elbit Systems by 54.8% during the 4th quarter. SG Americas Securities LLC now owns 1,238 shares of the aerospace company’s stock worth $141,000 after buying an additional 438 shares during the last quarter. Institutional investors own 7.95% of the company’s stock.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; munitions; command, control, communications, computer, intelligence, surveillance, and reconnaissance and cyber systems; electronic warfare and signal intelligence systems; and commercial cyber security products.

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