Cubist Systematic Strategies LLC Boosts Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Elbit Systems by 924.6% in the 1st quarter, now owning over 5,500 shares valued at approximately $2.14 million.
• Elbit Systems posted better-than-expected earnings of $3.23 per share for the last quarter, surpassing analyst estimates, alongside a revenue of $1.97 billion.
• The company announced an increase in its quarterly dividend from $0.60 to $0.75, set to be paid on October 27th, reflecting a 0.6% annual yield.

Cubist Systematic Strategies LLC increased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 924.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,584 shares of the aerospace company's stock after buying an additional 5,039 shares during the period. Cubist Systematic Strategies LLC's holdings in Elbit Systems were worth $2,142,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ESLT. Nuveen LLC purchased a new stake in Elbit Systems during the first quarter worth about $25,929,000. Deutsche Bank AG increased its holdings in Elbit Systems by 61.2% during the first quarter. Deutsche Bank AG now owns 117,083 shares of the aerospace company's stock worth $44,922,000 after buying an additional 44,459 shares during the last quarter. Vanguard Group Inc. increased its holdings in 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 buying an additional 15,552 shares during the last quarter. Squarepoint Ops LLC increased its holdings in 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 buying an additional 14,796 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $16,340,000 after buying an additional 12,891 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America raised their price objective 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. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $540.00.

Elbit Systems Price Performance

Shares of ESLT stock traded up $4.09 during trading hours on Friday, reaching $509.54. The stock had a trading volume of 42,167 shares, compared to its average volume of 110,187. The stock's fifty day simple moving average is $464.08 and its 200 day simple moving average is $419.90. 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 12 month low of $188.53 and a 12 month high of $510.58. The firm has a market capitalization of $22.65 billion, a PE ratio of 57.84, a PEG ratio of 1.89 and a beta of 0.37.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $2.08 earnings per share. On average, equities research analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current 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 dividend of $0.75 per share. The ex-dividend date is Tuesday, October 14th. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems's dividend payout ratio (DPR) is presently 22.70%.

Elbit Systems Company Profile

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.