Bfsg LLC Cuts Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Bfsg LLC reduced its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 51.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,515 shares of the aerospace company's stock after selling 9,962 shares during the quarter. Bfsg LLC's holdings in Elbit Systems were worth $3,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC purchased a new stake in Elbit Systems in the fourth quarter worth approximately $26,000. Prestige Wealth Management Group LLC boosted its stake in shares of Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 75 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems in the 4th quarter valued at $41,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 106 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Elbit Systems during the fourth quarter valued at about $73,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Trading Down 1.7%

Shares of ESLT stock opened at $447.20 on Tuesday. The stock has a market capitalization of $19.88 billion, a PE ratio of 76.44 and a beta of 0.31. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $476.04. The business has a 50-day moving average of $402.18 and a 200 day moving average of $342.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64.

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. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.69 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same quarter in the prior year, the firm posted $1.81 earnings per share. As a group, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.54%. Elbit Systems's dividend payout ratio is currently 25.25%.

Wall Street Analysts Forecast Growth

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

Elbit Systems 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.

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