Capital Investment Counsel Inc Purchases New Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Capital Investment Counsel Inc bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 755 shares of the aerospace company's stock, valued at approximately $289,000.

Several other institutional investors also recently modified their holdings of ESLT. Bank of New York Mellon Corp boosted its stake in Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company's stock valued at $11,817,000 after purchasing an additional 2,317 shares during the period. US Bancorp DE lifted its holdings in Elbit Systems by 9.0% in the fourth quarter. US Bancorp DE now owns 2,690 shares of the aerospace company's stock valued at $694,000 after buying an additional 222 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Elbit Systems by 104.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,320 shares of the aerospace company's stock worth $341,000 after buying an additional 675 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Elbit Systems by 44.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company's stock worth $810,000 after purchasing an additional 961 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Trading Down 0.2%

Shares of ESLT traded down $1.05 during trading hours on Thursday, hitting $434.53. The company had a trading volume of 77,887 shares, compared to its average volume of 64,530. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The firm has a market cap of $19.31 billion, a P/E ratio of 55.14 and a beta of 0.33. Elbit Systems Ltd. has a 52-week low of $177.85 and a 52-week high of $476.04. The stock's 50 day moving average price is $412.14 and its 200 day moving average price is $356.34.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.27. Elbit Systems had a net margin of 4.95% and a return on equity of 13.49%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the firm earned $1.81 earnings per share. On average, research analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a yield of 0.55%. Elbit Systems's dividend payout ratio is presently 25.38%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

About Elbit Systems

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.