Bank of America Corp DE Has $5.89 Million Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Bank of America Corp DE lowered its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 66.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,829 shares of the aerospace company's stock after selling 44,420 shares during the quarter. Bank of America Corp DE owned approximately 0.05% of Elbit Systems worth $5,892,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Hurley Capital LLC acquired a new position in shares of Elbit Systems during the fourth quarter worth approximately $26,000. Prestige Wealth Management Group LLC lifted its holdings in Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after buying an additional 75 shares in the last quarter. Sierra Ocean LLC bought a new position in Elbit Systems in the 4th quarter valued at $41,000. 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 buying an additional 106 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Elbit Systems during the fourth quarter worth $73,000. Institutional investors own 17.88% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Elbit Systems Trading Up 1.5%

Shares of NASDAQ:ESLT traded up $6.05 during trading on Friday, hitting $409.14. 160,674 shares of the company's stock were exchanged, compared to its average volume of 52,324. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a market cap of $18.19 billion, a P/E ratio of 69.94 and a beta of 0.31. The firm has a 50-day moving average price of $392.10 and a two-hundred day moving average price of $325.72. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $426.40.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly 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 4.00% and a return on equity of 11.34%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same period last year, the company posted $1.81 EPS. Equities analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, June 24th. This represents a $2.40 annualized dividend and a yield of 0.59%. Elbit Systems's dividend payout ratio is presently 25.25%.

Elbit Systems Company Profile

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.