Ashton Thomas Private Wealth LLC Invests $783,000 in Elbit Systems Ltd. $ESLT

Key Points

• Ashton Thomas Private Wealth LLC opened a new position in Elbit Systems (NASDAQ:ESLT), buying 1,357 shares worth about $783,000 in the fourth quarter.
• Top insiders sold large stakes on April 9 — EVP Oren Yaacov Sabag and CEO Bezhalel Machlis sold shares at about $887.40 each (totaling roughly $30.2M) — and insiders disposed of 69,736 shares worth $61.9M in the last quarter.
• Analyst sentiment has improved recently, with upgrades from firms like Wall Street Zen and Zacks and JPMorgan raising its price target to $930; MarketBeat's average target sits at $667 with a "Moderate Buy" consensus.

Ashton Thomas Private Wealth LLC purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,357 shares of the aerospace company's stock, valued at approximately $783,000.

A number of other hedge funds have also recently made changes to their positions in ESLT. CoreCap Advisors LLC purchased a new stake in Elbit Systems in the fourth quarter worth about $26,000. Financial Consulate Inc. purchased a new stake in Elbit Systems in the third quarter worth about $60,000. Wexford Capital LP purchased a new stake in Elbit Systems in the third quarter worth about $63,000. Smartleaf Asset Management LLC lifted its stake in Elbit Systems by 24.4% in the third quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company's stock worth $97,000 after acquiring an additional 38 shares during the period. Finally, Montag A & Associates Inc. lifted its stake in Elbit Systems by 27.8% in the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company's stock worth $98,000 after acquiring an additional 42 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ESLT. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, January 17th. Zacks Research raised shares of Elbit Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Elbit Systems from $580.00 to $930.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Elbit Systems has an average rating of "Moderate Buy" and an average target price of $667.00.

Insider Buying and Selling at Elbit Systems

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $7,546,449.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bezhalel Machlis sold 25,514 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $22,641,123.60. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 69,736 shares of company stock valued at $61,883,726. 0.84% of the stock is currently owned by corporate insiders.

Elbit Systems Stock Up 2.4%

NASDAQ:ESLT opened at $839.34 on Friday. The firm has a market cap of $37.31 billion, a PE ratio of 73.89, a price-to-earnings-growth ratio of 3.44 and a beta of 0.16. The company has a 50-day moving average of $870.30 and a 200 day moving average of $676.27. Elbit Systems Ltd. has a 1-year low of $369.60 and a 1-year high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.23 by $0.33. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.09 billion. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. As a group, research analysts anticipate that Elbit Systems Ltd. will post 15.47 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 13th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, April 13th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.75. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems's payout ratio is currently 29.31%.

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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