Caas Capital Management LP Purchases New Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Caas Capital Management LP bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,500 shares of the aerospace company's stock, valued at approximately $959,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Elbit Systems by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company's stock valued at $229,268,000 after acquiring an additional 10,215 shares in the last quarter. Invesco Ltd. lifted its position in Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock valued at $87,294,000 after acquiring an additional 39,095 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Elbit Systems by 177.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company's stock valued at $59,207,000 after acquiring an additional 145,324 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Elbit Systems by 4.2% in the 4th quarter. Nuveen Asset Management LLC now owns 71,799 shares of the aerospace company's stock valued at $18,779,000 after acquiring an additional 2,892 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Elbit Systems by 26.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,474 shares of the aerospace company's stock valued at $16,340,000 after acquiring an additional 12,891 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

Elbit Systems Stock Performance

Elbit Systems stock traded up $6.67 during trading on Monday, reaching $454.09. The company had a trading volume of 98,552 shares, compared to its average volume of 67,108. Elbit Systems Ltd. has a 52 week low of $177.85 and a 52 week high of $476.04. The firm's 50-day simple moving average is $419.50 and its 200 day simple moving average is $366.67. The firm has a market capitalization of $20.18 billion, a price-to-earnings ratio of 57.63 and a beta of 0.33. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.27. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the prior year, the business posted $1.81 EPS. Sell-side analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.53%. Elbit Systems's payout ratio 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.