Meitav Investment House Ltd. raised its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 27.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 378,223 shares of the aerospace company's stock after purchasing an additional 82,103 shares during the period. Elbit Systems makes up about 2.6% of Meitav Investment House Ltd.'s investment portfolio, making the stock its 9th largest holding. Meitav Investment House Ltd. owned 0.85% of Elbit Systems worth $168,600,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ESLT. Larson Financial Group LLC purchased a new stake in Elbit Systems during the 1st quarter valued at $29,000. SBI Securities Co. Ltd. boosted its stake in Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock valued at $59,000 after purchasing an additional 107 shares during the last quarter. SVB Wealth LLC purchased a new stake in Elbit Systems during the 1st quarter valued at $77,000. Plato Investment Management Ltd purchased a new stake in Elbit Systems during the 1st quarter valued at $87,000. Finally, Grove Bank & Trust boosted its stake in Elbit Systems by 1,900.0% during the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company's stock valued at $90,000 after purchasing an additional 190 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on ESLT. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. assumed coverage on Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Elbit Systems in a report on Saturday, September 27th. Finally, Wall Street Zen cut Elbit Systems from a "buy" rating to a "hold" rating in a report on Friday. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $530.00.
Check Out Our Latest Stock Report on Elbit Systems
Elbit Systems Price Performance
Shares of Elbit Systems stock opened at $526.29 on Tuesday. Elbit Systems Ltd. has a one year low of $203.04 and a one year high of $529.99. The stock's fifty day moving average is $481.74 and its 200 day moving average is $436.63. The stock has a market cap of $23.39 billion, a P/E ratio of 59.74, a P/E/G ratio of 1.87 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The company had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $2.08 EPS. Sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.
Elbit Systems Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's payout ratio is 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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