Counterpoint Mutual Funds LLC bought a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,140 shares of the aerospace company's stock, valued at approximately $2,760,000. Elbit Systems makes up 0.2% of Counterpoint Mutual Funds LLC's portfolio, making the stock its 8th largest holding.
Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC bought a new stake in Elbit Systems in the 1st quarter valued at approximately $29,000. SBI Securities Co. Ltd. increased its position in shares of Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after purchasing an additional 107 shares during the last quarter. SVB Wealth LLC acquired a new position in shares of Elbit Systems during the 1st quarter worth approximately $77,000. Grove Bank & Trust increased its position in shares of Elbit Systems by 1,900.0% during the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company's stock worth $90,000 after purchasing an additional 190 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Elbit Systems during the 1st quarter worth approximately $87,000. Institutional investors own 17.88% of the company's stock.
Analyst Ratings Changes
Several research analysts have weighed in on ESLT shares. Bank of America boosted their price target on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Wall Street Zen raised Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $540.00.
Read Our Latest Stock Report on Elbit Systems
Elbit Systems Stock Performance
ESLT opened at $498.97 on Tuesday. The business has a fifty day simple moving average of $469.59 and a 200 day simple moving average of $427.95. The company has a market capitalization of $22.18 billion, a PE ratio of 56.64, a price-to-earnings-growth ratio of 1.73 and a beta of 0.37. Elbit Systems Ltd. has a 1 year low of $190.78 and a 1 year high of $510.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. The firm 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 prior year, the company posted $2.08 EPS. Research analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.
Elbit Systems Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend 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 dividend payout ratio is currently 22.70%.
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.
Further Reading
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