Cadent Capital Advisors LLC Purchases Shares of 2,585 Elbit Systems Ltd. $ESLT

Key Points

• Cadent Capital Advisors LLC acquired a new position of 2,585 shares in Elbit Systems in Q4, valued at about $1.49 million, and institutional investors now own roughly 17.88% of the company.
• Elbit beat quarterly expectations with EPS of $3.56 (vs. $3.23 est.) and $2.15B revenue, and announced a quarterly dividend increase to $1.00 (annualized $4.00, yield 0.4%).
• Shares are trading around $890, materially above the average analyst target of $550.33 and a consensus rating of "Hold," indicating a valuation gap between the market and analysts.

Cadent Capital Advisors LLC acquired a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,585 shares of the aerospace company's stock, valued at approximately $1,493,000.

Other hedge funds have also made changes to their positions in the company. USA Financial Formulas purchased a new stake in Elbit Systems during the 3rd quarter worth $26,000. Financial Consulate Inc. purchased a new position in Elbit Systems in the third quarter valued at about $60,000. Wexford Capital LP acquired a new position in shares of Elbit Systems during the third quarter worth about $63,000. Montag A & Associates Inc. lifted its stake in shares of Elbit Systems by 27.8% during the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company's stock worth $98,000 after purchasing an additional 42 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of 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 buying an additional 38 shares during the period. Hedge funds and other institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Down 2.4%

Shares of Elbit Systems stock opened at $890.22 on Friday. Elbit Systems Ltd. has a 1-year low of $354.68 and a 1-year high of $1,016.06. The company has a market capitalization of $39.57 billion, a PE ratio of 78.36, a P/E/G ratio of 2.68 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The business has a 50-day moving average of $782.47 and a 200-day moving average of $611.28.

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, topping the consensus estimate of $3.23 by $0.33. The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.09 billion. Elbit Systems had a return on equity of 15.53% and a net margin of 6.73%. As a group, equities analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 13th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, April 13th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.75. Elbit Systems's dividend payout ratio is currently 19.81%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ESLT. Weiss Ratings reiterated a "buy (b)" rating on shares of Elbit Systems in a research note on Monday, December 29th. Wall Street Zen upgraded Elbit Systems from a "hold" rating to a "buy" rating in a report on Saturday, January 17th. Morgan Stanley started coverage on shares of Elbit Systems in a research report on Thursday, December 11th. They issued an "equal weight" rating and a $531.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Elbit Systems from $530.00 to $580.00 and gave the company a "neutral" rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Elbit Systems presently has a consensus rating of "Hold" and an average target price of $550.33.

About Elbit Systems

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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