Caisse DE Depot ET Placement DU Quebec Acquires Shares of 864 Elbit Systems Ltd. $ESLT

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired a new stake in Elbit Systems Ltd. by purchasing 864 shares valued at approximately $330,000.
• Elbit Systems recently declared a quarterly dividend of $0.75 per share, increasing from the previous $0.60, with an ex-dividend date set for October 14th.
• Analysts have upgraded Elbit Systems' stock rating to a "buy" and raised the price target from $500.00 to $540.00.

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 864 shares of the aerospace company's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC bought a new position in Elbit Systems during the 1st quarter valued at about $29,000. SBI Securities Co. Ltd. lifted its stake in shares of Elbit Systems by 232.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after purchasing an additional 107 shares during the period. SVB Wealth LLC bought a new position in shares of Elbit Systems in the 1st quarter worth approximately $77,000. Tower Research Capital LLC TRC bought a new position in shares of Elbit Systems in the 4th quarter worth approximately $73,000. Finally, National Bank of Canada FI lifted its stake in shares of Elbit Systems by 8.6% in the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock worth $151,000 after purchasing an additional 31 shares during the period. Institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Performance

Elbit Systems stock traded up $0.12 during midday trading on Thursday, hitting $479.54. The stock had a trading volume of 81,967 shares, compared to its average volume of 135,269. The firm's fifty day moving average is $456.89 and its two-hundred day moving average is $411.69. The company has a market capitalization of $21.32 billion, a PE ratio of 54.43, a P/E/G ratio of 1.80 and a beta of 0.37. Elbit Systems Ltd. has a 52-week low of $188.53 and a 52-week high of $499.00. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.66. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same period in the prior year, the firm posted $2.08 EPS. On average, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. Elbit Systems's payout ratio is 22.70%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Elbit Systems presently has an average rating of "Buy" and a consensus target price of $540.00.

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.