Cvfg LLC Buys Shares of 6,488 Elbit Systems Ltd. $ESLT

Key Points

• Cvfg LLC opened a new position in Elbit Systems, buying 6,488 shares worth about $5.51 million in the first quarter.
• Elbit Systems reported better-than-expected quarterly results, with EPS of $3.87 versus estimates of $2.98 and revenue of $2.19 billion versus $2.14 billion expected.
• The company also paid a quarterly dividend of $1.00 per share, and analysts currently have a mixed view, with an average rating of Hold and a consensus price target of $725.25.

Cvfg LLC bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 6,488 shares of the aerospace company's stock, valued at approximately $5,509,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ESLT. Van ECK Associates Corp grew its holdings in Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company's stock valued at $330,404,000 after purchasing an additional 628,236 shares during the period. Cadent Capital Advisors LLC acquired a new stake in Elbit Systems in the fourth quarter worth $1,493,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Elbit Systems by 709.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company's stock worth $50,948,000 after purchasing an additional 77,192 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Elbit Systems by 44.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company's stock worth $128,573,000 after purchasing an additional 77,741 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Elbit Systems by 8.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,235 shares of the aerospace company's stock valued at $10,202,000 after buying an additional 1,357 shares during the period. 17.88% of the stock is owned by institutional investors.

Elbit Systems Stock Performance

Shares of ESLT opened at $777.93 on Wednesday. The stock has a market capitalization of $34.58 billion, a price-to-earnings ratio of 62.99, a PEG ratio of 3.44 and a beta of 0.17. Elbit Systems Ltd. has a 12 month low of $422.84 and a 12 month high of $1,016.06. The firm has a fifty day simple moving average of $804.23 and a 200 day simple moving average of $781.47. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The firm had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.14 billion. Research analysts forecast that Elbit Systems Ltd. will post 15.3 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, June 23rd. Elbit Systems's dividend payout ratio is presently 26.96%.

Insider Buying and Selling at Elbit Systems

In other Elbit Systems news, EVP Jonathan Ariel sold 7,654 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Haim Daniel Delmar sold 7,654 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,736 shares of company stock valued at $61,883,726 in the last ninety days. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ESLT. Jefferies Financial Group lowered their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their target price on Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Finally, Zacks Research downgraded Elbit Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Elbit Systems has an average rating of "Hold" and an average price target of $725.25.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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