Assenagon Asset Management S.A. Makes New Investment in Elbit Systems Ltd. (NASDAQ:ESLT)

Assenagon Asset Management S.A. acquired a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 906 shares of the aerospace company's stock, valued at approximately $346,000.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Elbit Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company's stock worth $229,268,000 after purchasing an additional 10,215 shares during the period. Invesco Ltd. grew its holdings in Elbit Systems by 13.1% in the fourth quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock worth $87,294,000 after purchasing an additional 39,095 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Elbit Systems by 177.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company's stock worth $59,207,000 after purchasing an additional 145,324 shares during the period. Nuveen Asset Management LLC grew its holdings in Elbit Systems by 4.2% in the fourth quarter. Nuveen Asset Management LLC now owns 71,799 shares of the aerospace company's stock worth $18,779,000 after purchasing an additional 2,892 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Elbit Systems by 26.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,474 shares of the aerospace company's stock worth $16,340,000 after purchasing an additional 12,891 shares during the period. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday.

Elbit Systems Stock Up 0.2%

NASDAQ:ESLT traded up $1.09 during trading hours on Monday, reaching $439.56. The company had a trading volume of 125,197 shares, compared to its average volume of 60,077. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $476.04. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 55.78 and a beta of 0.31. The business's 50-day simple moving average is $406.55 and its two-hundred day simple moving average is $348.80. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the firm earned $1.81 earnings per share. On average, equities analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

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

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.