Diversify Wealth Management LLC Makes New $2.04 Million Investment in Elbit Systems Ltd. $ESLT

Key Points

• Diversify Wealth Management bought a new stake in Elbit Systems during the first quarter, purchasing 2,493 shares valued at about $2.04 million.
• Elbit Systems reported strong quarterly results, with EPS of $3.87 versus estimates of $2.98 and revenue of $2.19 billion, both ahead of analyst expectations.
• The stock was down 2.2% on Tuesday, and analysts currently have a Hold consensus rating with an average target price of $725.25.

Diversify Wealth Management LLC purchased a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,493 shares of the aerospace company's stock, valued at approximately $2,043,000.

A number of other hedge funds have also bought and sold shares of the business. Kestra Advisory Services LLC increased its position in Elbit Systems by 0.3% in the first quarter. Kestra Advisory Services LLC now owns 6,610 shares of the aerospace company's stock worth $5,612,000 after buying an additional 18 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Elbit Systems by 2.5% during the 4th quarter. Captrust Financial Advisors now owns 741 shares of the aerospace company's stock valued at $428,000 after buying an additional 18 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Elbit Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 7,889 shares of the aerospace company's stock valued at $4,558,000 after buying an additional 20 shares during the last quarter. Arax Advisory Partners grew its stake in shares of Elbit Systems by 25.0% during the 4th quarter. Arax Advisory Partners now owns 150 shares of the aerospace company's stock worth $87,000 after acquiring an additional 30 shares during the period. Finally, Greenleaf Trust grew its stake in shares of Elbit Systems by 7.1% during the 4th quarter. Greenleaf Trust now owns 466 shares of the aerospace company's stock worth $269,000 after acquiring an additional 31 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Down 2.2%

Shares of NASDAQ ESLT opened at $735.40 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $798.54 and a 200-day moving average of $786.96. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 3.19 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.

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

Elbit Systems Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ESLT shares. JPMorgan Chase & Co. lifted their target price on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Jefferies Financial Group dropped their price target on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating on the stock in a research note on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Elbit Systems has a consensus rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.