Notable News to Focus: Elbit Systems Ltd. (NASDAQ:ESLT)

Elbit Systems Ltd. (NASDAQ:ESLT) stock observed trading -24.23% off 52-week high price. On the other end, the stock has been noted 15.55% away from low price over the last 52-weeks. The stock disclosed a move of -5.34% away from 50 day moving average and -10.30% away from 200 day moving average. Moving closer, we can see that shares have been trading -4.19% off 20-day moving average. It has market cap of $5.80B and dividend yield of 1.38%.

On Sept. 14, 2020, Elbit Systems Ltd. (NASDAQ:ESLT) notified that its wholly-owned subsidiary, Elbit Systems – Cyclone Ltd., was awarded a contract by Lockheed Martin (NYSE: LMT) for the manufacture of assemblies for Forward Equipment Bay assemblies for the F-35. The contract is in an amount that is not material to Elbit Systems and will be performed over a period of four-years.

The contract calls for Elbit Systems to supply assemblies for the F-35’s Forward Equipment Bay – made from composite materials and the associated structures – for all F-35 aircraft variants. Elbit Systems will deliver more than 1,400 components to Lockheed Martin during the contract period. The decision by Lockheed Martin comes as a result of Elbit Systems successful performance on the production of other composite structures for the F-35 program.

This award further expands Elbit Systems work on the F-35, which includes the helmet mounted display systems, the development of the panoramic cockpit display, power amplifiers and 22 different structural assemblies.

The Israel based company Elbit Systems Ltd. moved with change of 4.61% to $127.1 with the total traded volume of 31018 shares in recent session versus to an average volume of 23.97K shares. The stock was observed in the 5 days activity at 1.13%. The one month performance of stock was -8.79%. ESLT’s shares are at -12.02% for the quarter and driving a -19.27% return over the course of the past year and is now at -18.03% since this point in 2018.  Right now the stock beta is 0.82. The average volatility for the week and month was at 1.80% and 1.57% respectively. There are 44.20M shares outstanding and 24.53M shares are floated in market.

Related Posts