Amundi Boosts Position in Elbit Systems Ltd. $ESLT

Key Points

• Amundi increased its stake in Elbit Systems Ltd. by 12.4% in the first quarter, acquiring an additional 1,467 shares, bringing its total holdings to 13,332 shares valued at $5,202,000.
• Elbit Systems recently announced a quarterly dividend of $0.75 per share, up from the previous $0.60, with an annualized dividend yield of 0.6% and a dividend payout ratio of 22.70%.
• The company's stock has seen a price increase of 3.1% recently, opening at $504.33, and it boasts a market capitalization of $22.42 billion with a price-to-earnings ratio of 57.25.

Amundi lifted its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,332 shares of the aerospace company's stock after purchasing an additional 1,467 shares during the quarter. Amundi's holdings in Elbit Systems were worth $5,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Elbit Systems by 301.1% during the fourth quarter. Northern Trust Corp now owns 7,798 shares of the aerospace company's stock valued at $2,012,000 after buying an additional 5,854 shares during the period. Balyasny Asset Management L.P. bought a new stake in Elbit Systems during the fourth quarter worth about $229,000. Laird Norton Wetherby Wealth Management LLC grew its holdings in Elbit Systems by 2.9% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock worth $540,000 after purchasing an additional 60 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Elbit Systems by 26.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,474 shares of the aerospace company's stock valued at $16,340,000 after purchasing an additional 12,891 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Elbit Systems by 4.2% during the fourth quarter. Nuveen Asset Management LLC now owns 71,799 shares of the aerospace company's stock valued at $18,779,000 after purchasing an additional 2,892 shares during the last quarter. Institutional investors own 17.88% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on ESLT shares. Wall Street Zen upgraded Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $540.00.

Elbit Systems Stock Performance

NASDAQ ESLT traded up $4.53 during trading hours on Tuesday, hitting $507.95. The company's stock had a trading volume of 85,456 shares, compared to its average volume of 109,860. Elbit Systems Ltd. has a 12 month low of $188.53 and a 12 month high of $510.58. The company's 50 day simple moving average is $466.55 and its two-hundred day simple moving average is $423.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The company has a market cap of $22.58 billion, a P/E ratio of 57.66, a price-to-earnings-growth ratio of 1.89 and a beta of 0.37.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business earned $2.08 EPS. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a $0.75 dividend. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. 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%. Elbit Systems's payout ratio is presently 22.70%.

About Elbit Systems

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.