Jones Financial Companies Lllp Buys 4,833 Shares of Elbit Systems Ltd. $ESLT

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Elbit Systems by 25,436.8% during the first quarter, bringing its holdings to 4,852 shares valued at approximately $1.86 million.
• Elbit Systems recently increased its quarterly dividend from $0.60 to $0.75, with a total annualized dividend yield of 0.6%.
• Wall Street analysts have a consensus "Buy" rating for Elbit Systems, with an increased price target of $540.00.

Jones Financial Companies Lllp raised its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 25,436.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,852 shares of the aerospace company's stock after buying an additional 4,833 shares during the period. Jones Financial Companies Lllp's holdings in Elbit Systems were worth $1,862,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ESLT. Nuveen LLC acquired a new stake in Elbit Systems in the first quarter valued at approximately $25,929,000. Deutsche Bank AG boosted its position in Elbit Systems by 61.2% in the first quarter. Deutsche Bank AG now owns 117,083 shares of the aerospace company's stock valued at $44,922,000 after buying an additional 44,459 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Elbit Systems by 61.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,779 shares of the aerospace company's stock worth $38,533,000 after purchasing an additional 38,305 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Elbit Systems by 1.8% during the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock worth $341,276,000 after purchasing an additional 15,552 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of Elbit Systems by 105.8% during the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company's stock worth $209,000 after purchasing an additional 14,796 shares during the period. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Trading Down 6.5%

ESLT stock traded down $32.90 during midday trading on Wednesday, hitting $475.06. The stock had a trading volume of 76,956 shares, compared to its average volume of 106,392. The firm has a market cap of $21.12 billion, a P/E ratio of 53.95, a price-to-earnings-growth ratio of 1.89 and a beta of 0.37. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a 1-year low of $188.53 and a 1-year high of $510.58. The business has a fifty day moving average price of $466.55 and a two-hundred day moving average price of $423.45.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released 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. The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same quarter in the previous year, the business earned $2.08 earnings per share. On average, sell-side analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.6%. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's payout ratio is presently 22.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ESLT. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Bank of America lifted their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $540.00.

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.