Elbit Systems (ESLT) Declares $0.50 Dividend

Elbit Systems said on May 29, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Previously, the company paid $0.50 per share.

Shares must be purchased before the ex-div date of June 23, 2023 to qualify for the dividend. Shareholders of record as of June 26, 2023 will receive the payment on July 10, 2023.

At the current share price of $206.34 / share, the stock's dividend yield is 0.97%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.25%, the lowest has been 0.77%, and the highest has been 1.68%. The standard deviation of yields is 0.22 (n=237).

The current dividend yield is 1.25 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 343 funds or institutions reporting positions in Elbit Systems. This is an increase of 19 owner(s) or 5.86% in the last quarter. Average portfolio weight of all funds dedicated to ESLT is 0.21%, a decrease of 1.02%. Total shares owned by institutions increased in the last three months by 4.32% to 8,875K shares. The put/call ratio of ESLT is 0.64, indicating a bullish outlook.

Analyst Price Forecast Suggests 99.72% Downside

As of May 11, 2023, the average one-year price target for Elbit Systems is 0.57. The forecasts range from a low of 0.50 to a high of $0.65. The average price target represents a decrease of 99.72% from its latest reported closing price of 206.34.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Elbit Systems is 6,079MM. The projected annual non-GAAP EPS is 8.63.

What are Other Shareholders Doing?

Clal Insurance Enterprises Holdings holds 2,524K shares representing 5.69% ownership of the company. In it's prior filing, the firm reported owning 2,206K shares, representing an increase of 12.63%. The firm increased its portfolio allocation in ESLT by 17.92% over the last quarter.

1832 Asset Management holds 2,236K shares representing 5.04% ownership of the company. In it's prior filing, the firm reported owning 2,237K shares, representing a decrease of 0.04%. The firm increased its portfolio allocation in ESLT by 3.78% over the last quarter.

VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 323K shares representing 0.73% ownership of the company. In it's prior filing, the firm reported owning 326K shares, representing a decrease of 0.91%. The firm decreased its portfolio allocation in ESLT by 29.94% over the last quarter.

Jpmorgan Chase holds 234K shares representing 0.53% ownership of the company. In it's prior filing, the firm reported owning 84K shares, representing an increase of 64.07%. The firm decreased its portfolio allocation in ESLT by 66.49% over the last quarter.

Meitav Dash Investments holds 233K shares representing 0.53% ownership of the company. In it's prior filing, the firm reported owning 212K shares, representing an increase of 9.13%. The firm increased its portfolio allocation in ESLT by 124,336.76% over the last quarter.

Elbit Systems Background Information
(This description is provided by the company.)

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

This story originally appeared on Fintel.