Swiss National Bank Boosts Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Swiss National Bank increased its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,342 shares of the aerospace company's stock after acquiring an additional 912 shares during the quarter. Swiss National Bank owned about 0.17% of Elbit Systems worth $28,825,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Elbit Systems by 3.8% during the first quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock worth $575,000 after buying an additional 55 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of 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 acquiring an additional 60 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Elbit Systems by 1.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company's stock worth $1,031,000 after acquiring an additional 69 shares during the period. Larson Financial Group LLC acquired a new position in shares of Elbit Systems in the first quarter worth about $29,000. Finally, Hunter Associates Investment Management LLC raised its position in shares of Elbit Systems by 6.5% in the first quarter. Hunter Associates Investment Management LLC now owns 1,650 shares of the aerospace company's stock worth $629,000 after acquiring an additional 100 shares during the period. Institutional investors own 17.88% of the company's stock.

Elbit Systems Price Performance

ESLT traded up $4.23 during midday trading on Friday, hitting $464.00. 81,571 shares of the company traded hands, compared to its average volume of 105,540. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 52.67, a PEG ratio of 1.80 and a beta of 0.33. Elbit Systems Ltd. has a 52-week low of $188.53 and a 52-week high of $494.32. The business has a 50 day simple moving average of $445.63 and a two-hundred day simple moving average of $394.20.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 15.10%. During the same period last year, the firm posted $2.08 earnings per share. On average, equities analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change 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 payout ratio is 25.38%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ESLT shares. Wall Street Zen downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Bank of America started coverage on shares of Elbit Systems in a research report on Thursday, July 24th. They issued a "buy" rating and a $500.00 price objective for the company.

Elbit Systems 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.