Elbit Systems slides as investors take profits after $750M Greece PULS deal
Elbit Systems shares fell as investors locked in profits after a sharp run-up tied to April’s $750 million PULS rocket-artillery contract for Greece. The move also comes after the stock’s April 13, 2026 ex-dividend date, which removed eligibility for the April 27 payout for new buyers.
1. What’s moving the stock
Elbit Systems (ESLT) is trading lower as the market digests a recent catalyst-driven rally and shifts toward near-term profit-taking. The shares climbed earlier in April after Elbit announced it had been awarded an approximately $750 million (€650 million) contract to supply PULS rocket artillery systems to the Hellenic Armed Forces, a multi-year program that reinforced its European demand narrative. (prnewswire.com)
2. Dividend timing is no longer a near-term tailwind
The stock’s latest dividend cycle is also now in the rear-view mirror for marginal buyers: Elbit’s most recent ex-dividend date was April 13, 2026, with the dividend scheduled to be paid April 27, 2026. With the shares already trading ex-dividend, the near-term incentive to buy for that payout has passed, which can reduce incremental demand around the payment window. (marketbeat.com)
3. Why a pullback can happen even after good news
Large contract announcements can lift defense stocks quickly, but they can also be followed by digestion once the news is fully priced in—especially when the share price has already moved significantly over a short period. The market is now weighing how quickly that backlog converts into revenue and cash flow versus valuation and broader risk appetite for defense names.