Cetera Investment Advisers Sells 596 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Cetera Investment Advisers lessened its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Elbit Systems during the 1st quarter valued at $29,000. SBI Securities Co. Ltd. grew its holdings in shares of Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock valued at $59,000 after buying an additional 107 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Elbit Systems during the fourth quarter valued at $73,000. Cambridge Investment Research Advisors Inc. acquired a new position in Elbit Systems during the first quarter valued at $203,000. Finally, Brighton Jones LLC purchased a new stake in Elbit Systems in the 1st quarter worth about $206,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Analysts Set New Price Targets

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

Elbit Systems Price Performance

ESLT traded down $18.18 during trading on Friday, hitting $452.24. The company's stock had a trading volume of 91,425 shares, compared to its average volume of 103,223. Elbit Systems Ltd. has a 12 month low of $186.90 and a 12 month high of $494.32. 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 price is $442.52 and its two-hundred day moving average price is $389.07. The stock has a market capitalization of $20.10 billion, a price-to-earnings ratio of 57.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.33.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.49% and a net margin of 4.95%. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the previous year, the business posted $1.81 EPS. Sell-side analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

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

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.