Elbit Systems Ltd. $ESLT Position Lowered by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Elbit Systems by 96% in the fourth quarter, selling 15,666 shares and leaving it with 651 shares worth about $375,000.
• Elbit Systems reported strong quarterly results, with EPS of $3.87 versus analyst expectations of $2.98 and revenue of $2.19 billion, slightly ahead of estimates.
• Despite the earnings beat, analyst sentiment remains mixed: the stock has an average Hold rating and a consensus price target of $803.75.

Hsbc Holdings PLC lowered its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 96.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 651 shares of the aerospace company's stock after selling 15,666 shares during the quarter. Hsbc Holdings PLC's holdings in Elbit Systems were worth $375,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in Elbit Systems during the fourth quarter valued at $26,000. Wexford Capital LP acquired a new stake in shares of Elbit Systems in the third quarter valued at approximately $63,000. Leonteq Securities AG bought a new stake in Elbit Systems during the 4th quarter valued at $68,000. Hilton Head Capital Partners LLC acquired a new position in Elbit Systems during the 4th quarter worth $69,000. Finally, Greenline Wealth Management LLC bought a new position in shares of Elbit Systems in the fourth quarter worth $85,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Trading Up 0.4%

Elbit Systems stock opened at $741.55 on Friday. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 60.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17. Elbit Systems Ltd. has a 1 year low of $427.08 and a 1 year high of $1,016.06. The firm's 50 day moving average price is $792.32 and its two-hundred day moving average price is $789.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41.

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

Elbit Systems Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ESLT. JPMorgan Chase & Co. lifted their price objective on shares of Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their target price 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. Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a research report on Wednesday. Finally, Zacks Research lowered shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $803.75.

Elbit Systems 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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