Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by Cardinal Capital Management

Cardinal Capital Management reduced its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,707 shares of the aerospace company's stock after selling 2,429 shares during the quarter. Cardinal Capital Management's holdings in Elbit Systems were worth $4,492,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ESLT. Arrowstreet Capital Limited Partnership grew its holdings in shares of Elbit Systems by 177.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company's stock valued at $59,207,000 after purchasing an additional 145,324 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock worth $87,294,000 after purchasing an additional 39,095 shares during the last quarter. FIL Ltd acquired a new position in Elbit Systems during the 4th quarter valued at approximately $4,616,000. Squarepoint Ops LLC grew its stake in Elbit Systems by 105.8% during the 4th quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company's stock worth $209,000 after buying an additional 14,796 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in Elbit Systems by 52.7% in the fourth quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company's stock worth $11,069,000 after buying an additional 14,612 shares during the period. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Stock Performance

Elbit Systems stock traded up $0.20 during midday trading on Friday, reaching $438.47. 184,481 shares of the stock traded hands, compared to its average volume of 60,175. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $476.04. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 55.64 and a beta of 0.31. The firm has a fifty day moving average price of $405.28 and a two-hundred day moving average price of $344.83.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.30 by $0.27. The firm had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a net margin of 4.95% and a return on equity of 13.49%. During the same quarter last year, the company earned $1.81 EPS. On average, equities research analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems's dividend payout ratio is presently 25.38%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th.

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.