Cetera Investment Advisers Lowers Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Cetera Investment Advisers trimmed its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,120 shares of the aerospace company's stock after selling 596 shares during the quarter. Cetera Investment Advisers' holdings in Elbit Systems were worth $3,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new stake in Elbit Systems during the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. grew its stake in 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 buying an additional 107 shares in the last quarter. Signaturefd LLC grew its stake in Elbit Systems by 13.0% in the 1st quarter. Signaturefd LLC now owns 1,400 shares of the aerospace company's stock worth $537,000 after buying an additional 161 shares in the last quarter. Ballentine Partners LLC purchased a new position in Elbit Systems in the 1st quarter worth approximately $220,000. Finally, Harmony Asset Management LLC purchased a new position in Elbit Systems in the 1st quarter worth approximately $211,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America started coverage on shares of Elbit Systems in a research note on Thursday, July 24th. They issued a "buy" rating and a $500.00 price target for the company. Wall Street Zen raised shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 22nd.

Elbit Systems Trading Down 1.2%

Shares of Elbit Systems stock traded down $6.01 during trading on Tuesday, reaching $483.99. The company's stock had a trading volume of 247,524 shares, compared to its average volume of 109,256. The company has a market cap of $21.51 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 1.91 and a beta of 0.33. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average is $439.38 and its two-hundred day moving average is $387.21. Elbit Systems Ltd. has a 52-week low of $179.22 and a 52-week high of $494.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly 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. The business had revenue of $1.90 billion during 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 in the prior year, the company posted $1.81 EPS. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems's payout ratio is presently 25.38%.

Elbit Systems Company 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.