Elbit Systems Ltd. (NASDAQ:ESLT) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Elbit Systems Ltd. by 14.4% during the first quarter, now holding approximately 0.05% of the company, valued at about $8.9 million.
• Elbit Systems reported $2.57 earnings per share for the last quarter, exceeding estimates by $0.27, with revenue reaching $1.90 billion.
• The firm declared a quarterly dividend of $0.60, equating to an annualized yield of 0.5%, with a payout ratio of 25.38%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,323 shares of the aerospace company's stock after purchasing an additional 2,928 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.05% of Elbit Systems worth $8,949,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ESLT. Deutsche Bank AG grew 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 in the last quarter. Invesco Ltd. grew its stake in Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock valued at $87,294,000 after purchasing an additional 39,095 shares during the period. Vanguard Group Inc. grew its stake in shares of Elbit Systems by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock worth $341,276,000 after acquiring an additional 15,552 shares during the period. Squarepoint Ops LLC grew its stake in shares of Elbit Systems by 105.8% during the 4th quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company's stock worth $209,000 after acquiring an additional 14,796 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Elbit Systems by 52.7% during the 4th quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company's stock worth $11,069,000 after purchasing an additional 14,612 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Performance

Elbit Systems stock traded up $4.23 during mid-day trading on Friday, reaching $464.00. 81,571 shares of the stock traded hands, compared to its average volume of 131,197. The stock has a market capitalization of $20.62 billion, a PE ratio of 52.67, a price-to-earnings-growth ratio of 1.79 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.70. Elbit Systems Ltd. has a 12-month low of $188.53 and a 12-month high of $494.32. The business's 50-day moving average is $446.50 and its 200-day moving average is $395.36.

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 analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%. The business had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. As a group, sell-side analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a $0.75 dividend. The ex-dividend date 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 dividend yield of 0.6%. Elbit Systems's dividend payout ratio (DPR) is currently 25.38%.

Analyst Ratings Changes

Several research firms have weighed in on ESLT. Bank of America assumed coverage on Elbit Systems in a report on Thursday, July 24th. They issued a "buy" rating and a $500.00 price target on the stock. Wall Street Zen lowered Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th.

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.