Mirae Asset Global Investments Co. Ltd. trimmed its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 40.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,164 shares of the aerospace company's stock after selling 787 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Elbit Systems were worth $523,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ESLT. Larson Financial Group LLC acquired a new stake in shares of Elbit Systems during the 1st quarter worth $29,000. SBI Securities Co. Ltd. increased its holdings in shares of Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after buying an additional 107 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Elbit Systems during the 1st quarter worth $77,000. Plato Investment Management Ltd acquired a new stake in shares of Elbit Systems during the 1st quarter worth $87,000. Finally, Grove Bank & Trust increased its holdings in shares of Elbit Systems by 1,900.0% during the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company's stock worth $90,000 after buying an additional 190 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.
Elbit Systems Stock Performance
NASDAQ:ESLT opened at $502.35 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. Elbit Systems Ltd. has a 1-year low of $204.25 and a 1-year high of $529.99. The firm has a 50-day moving average of $485.81 and a two-hundred day moving average of $439.23. The stock has a market cap of $22.33 billion, a P/E ratio of 57.02, a PEG ratio of 1.84 and a beta of 0.33.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping 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 last year, the company posted $2.08 earnings per share. On average, research analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.
Elbit Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a $0.75 dividend. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's dividend payout ratio is 22.70%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price objective for the company. Bank of America increased their price target on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Wall Street Zen downgraded Elbit Systems from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Elbit Systems in a report on Wednesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $530.00.
Check Out Our Latest Report on Elbit Systems
Elbit Systems Company Profile
(
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.
See Also
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