Amundi Has $18.95 Million Position in Elbit Systems Ltd. $ESLT

Key Points

• Amundi increased its Elbit Systems stake by 43.2% in the first quarter, owning 22,319 shares valued at approximately $18.95 million. Institutional investors and hedge funds collectively own 17.88% of the company.
• Elbit Systems exceeded quarterly expectations, reporting $3.87 in EPS versus the $2.98 consensus and revenue of $2.19 billion against estimates of $2.14 billion.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and an average price target of $803.75, below its reported opening price of $849.27. The company also pays a quarterly dividend of $1.00, yielding 0.5% annually.

Amundi boosted its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 43.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,319 shares of the aerospace company's stock after purchasing an additional 6,728 shares during the quarter. Amundi owned about 0.05% of Elbit Systems worth $18,951,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Elbit Systems by 4.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company's stock worth $1,351,958,000 after purchasing an additional 69,165 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Elbit Systems by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company's stock valued at $573,131,000 after buying an additional 13,406 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Elbit Systems by 2.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company's stock worth $246,121,000 after buying an additional 12,003 shares in the last quarter. Meitav Investment House Ltd. grew its position in Elbit Systems by 8.9% during the first quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company's stock worth $332,985,000 after buying an additional 32,617 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Elbit Systems by 10.0% during the 3rd quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company's stock worth $189,090,000 after acquiring an additional 33,619 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Price Performance

Shares of ESLT stock opened at $849.27 on Wednesday. The business has a fifty day simple moving average of $797.67 and a 200 day simple moving average of $804.64. The company has a market cap of $37.75 billion, a P/E ratio of 68.77, a P/E/G ratio of 3.52 and a beta of 0.17. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a twelve month low of $432.85 and a twelve month high of $1,016.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.89. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. On average, sell-side analysts forecast that Elbit Systems Ltd. will post 15.3 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, June 23rd. Elbit Systems's dividend payout ratio is presently 26.96%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ESLT. Zacks Research cut Elbit Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 24th. Morgan Stanley set a $845.00 price target on Elbit Systems in a research report on Wednesday, July 15th. Jefferies Financial Group dropped their price target on Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Elbit Systems has an average rating of "Hold" and an average price target of $803.75.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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