Elbit Systems Ltd. (NASDAQ:ESLT) Position Trimmed by Cardinal Capital Management

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

Several other hedge funds have also recently bought and sold shares of ESLT. Hurley Capital LLC acquired a new position in shares of Elbit Systems during the fourth quarter worth $26,000. Prestige Wealth Management Group LLC lifted its position in shares of Elbit Systems by 150.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after purchasing an additional 75 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Elbit Systems in the fourth quarter valued at $41,000. Smartleaf Asset Management LLC raised its holdings in Elbit Systems by 196.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Elbit Systems in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Down 3.4%

ESLT traded down $15.64 during trading on Wednesday, hitting $438.27. The company had a trading volume of 225,769 shares, compared to its average volume of 59,678. The company has a market cap of $19.48 billion, a PE ratio of 55.62 and a beta of 0.31. The business has a 50-day moving average of $404.44 and a 200-day moving average of $343.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $476.04.

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

Elbit Systems Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.