Capital Wealth Planning LLC Has $9.80 Million Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Capital Wealth Planning LLC increased its Elbit Systems stake by 149.9% in the fourth quarter, ending with 16,559 shares valued at about $9.8 million.
• Several other large investors also boosted positions, and institutional ownership in Elbit Systems now stands at 17.88% of the stock.
• Elbit Systems reported better-than-expected quarterly results and declared a $1.00 quarterly dividend, while analysts currently rate the stock a consensus Moderate Buy.

Capital Wealth Planning LLC lifted its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 149.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,559 shares of the aerospace company's stock after buying an additional 9,932 shares during the period. Capital Wealth Planning LLC's holdings in Elbit Systems were worth $9,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Elbit Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company's stock worth $573,131,000 after acquiring an additional 13,406 shares during the last quarter. Van ECK Associates Corp grew its position in Elbit Systems by 3,162.0% during the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company's stock worth $330,404,000 after acquiring an additional 628,236 shares during the last quarter. Y.D. More Investments Ltd grew its position in Elbit Systems by 3.0% during the 4th quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company's stock worth $356,345,000 after acquiring an additional 18,289 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company's stock worth $246,121,000 after acquiring an additional 12,003 shares during the last quarter. Finally, Invesco Ltd. grew its position in Elbit Systems by 10.0% during the 3rd quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company's stock worth $189,090,000 after acquiring an additional 33,619 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ESLT. Jefferies Financial Group restated a "hold" rating and set a $950.00 price target on shares of Elbit Systems in a research report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price objective on Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded Elbit Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $742.75.

Insiders Place Their Bets

In related news, EVP Oren Yaacov Sabag sold 8,504 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $7,546,449.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bezhalel Machlis sold 25,514 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $22,641,123.60. The SEC filing for this sale provides additional information. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last three months. Insiders own 0.84% of the company's stock.

Elbit Systems Stock Down 2.2%

Shares of ESLT opened at $818.97 on Thursday. Elbit Systems Ltd. has a 52 week low of $407.76 and a 52 week high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. The firm has a market capitalization of $36.40 billion, a price-to-earnings ratio of 66.31, a PEG ratio of 3.41 and a beta of 0.14. The business's fifty day moving average price is $842.64 and its two-hundred day moving average price is $741.20.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. On average, analysts predict that Elbit Systems Ltd. will post 15.94 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems's dividend payout ratio (DPR) is currently 26.96%.

Elbit Systems Company Profile

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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