Chicago Capital LLC purchased a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,844 shares of the aerospace company's stock, valued at approximately $3,975,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Elbit Systems in the first quarter valued at approximately $229,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Elbit Systems during the first quarter worth $203,000. Yousif Capital Management LLC acquired a new stake in Elbit Systems during the first quarter worth $262,000. Ballentine Partners LLC acquired a new stake in Elbit Systems during the first quarter worth $220,000. Finally, GAMMA Investing LLC increased its stake in Elbit Systems by 38,268.4% during the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company's stock worth $2,797,000 after acquiring an additional 7,271 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.
Elbit Systems Stock Up 0.9%
Shares of NASDAQ ESLT opened at $497.85 on Tuesday. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 56.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The business has a 50-day moving average of $475.22 and a two-hundred day moving average of $432.77. Elbit Systems Ltd. has a 1 year low of $197.95 and a 1 year high of $510.58.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.66. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the previous year, the business earned $2.08 EPS. On average, analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.
Elbit Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, October 14th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's payout ratio is presently 22.70%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Bank of America raised their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen raised Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Elbit Systems currently has an average rating of "Buy" and an average price target of $540.00.
Read Our Latest Stock Report on Elbit Systems
About Elbit Systems
(
Free Report)
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.
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