Arrowstreet Capital Limited Partnership Has $298.18 Million Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Arrowstreet Capital cut its Elbit Systems stake by 25.1% in the first quarter, but still held 354,104 shares worth about $298.2 million, or roughly 0.8% of the company.
• Elbit Systems recently beat earnings expectations, reporting EPS of $3.87 versus $2.98 expected and revenue of $2.19 billion versus $2.14 billion forecast.
• Wall Street sentiment remains cautious: the stock has a consensus Hold rating with an average price target of $803.75, while its latest quarterly dividend was $1.00 per share.

Arrowstreet Capital Limited Partnership lessened its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 354,104 shares of the aerospace company's stock after selling 118,469 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.80% of Elbit Systems worth $298,175,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new position in shares of Elbit Systems during the first quarter worth approximately $26,000. CoreCap Advisors LLC bought a new stake in shares of Elbit Systems during the fourth quarter valued at approximately $26,000. Archer Investment Corp acquired a new position in shares of Elbit Systems in the 1st quarter valued at $85,000. Leonteq Securities AG bought a new position in shares of Elbit Systems during the 4th quarter worth about $68,000. Finally, Hilton Head Capital Partners LLC bought a new position in shares of Elbit Systems during the 4th quarter worth about $69,000. 17.88% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating on the stock in a research note on Wednesday, June 24th. JPMorgan Chase & Co. raised their price target 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. Morgan Stanley set a $845.00 price objective on Elbit Systems in a report on Wednesday, July 15th. Finally, Zacks Research lowered Elbit Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 24th. Two 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $803.75.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT opened at $820.21 on Friday. The firm's 50 day simple moving average is $793.22 and its 200 day simple moving average is $797.24. Elbit Systems Ltd. has a fifty-two week low of $432.85 and a fifty-two week high of $1,016.06. The company has a market capitalization of $36.46 billion, a price-to-earnings ratio of 66.41, a P/E/G ratio of 3.43 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 0.86.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. As a group, sell-side analysts forecast that Elbit Systems Ltd. will post 15.3 earnings per share for the current year.

Elbit Systems Dividend Announcement

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

Elbit Systems 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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