Clal Insurance Enterprises Holdings Ltd Raises Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Key Points

• Clal Insurance Enterprises Holdings Ltd increased its stake in Elbit Systems Ltd. by 0.3%, owning approximately 1,357,148 shares, which accounts for about 5.4% of its portfolio.
• A number of institutional investors have shown interest in Elbit Systems, with National Bank of Canada FI increasing its position by 8.6% to hold 393 shares valued at $151,000.
• Elbit Systems recently announced a quarterly dividend of $0.60 per share, yielding 0.5%, with a payout ratio of 25.38%.

Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,357,148 shares of the aerospace company's stock after purchasing an additional 4,248 shares during the quarter. Elbit Systems makes up approximately 5.4% of Clal Insurance Enterprises Holdings Ltd's portfolio, making the stock its 4th largest holding. Clal Insurance Enterprises Holdings Ltd owned 3.05% of Elbit Systems worth $520,189,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC purchased a new stake in shares of Elbit Systems in the first quarter worth about $229,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Elbit Systems in the first quarter worth about $203,000. Yousif Capital Management LLC purchased a new stake in shares of Elbit Systems in the first quarter worth about $262,000. Ballentine Partners LLC bought a new position in shares of Elbit Systems in the first quarter worth approximately $220,000. Finally, GAMMA Investing LLC increased its position in shares of Elbit Systems by 38,268.4% in the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company's stock worth $2,797,000 after purchasing an additional 7,271 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Price Performance

Shares of ESLT stock traded up $4.23 during trading on Friday, hitting $464.00. The company had a trading volume of 81,569 shares, compared to its average volume of 105,540. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. The stock's 50-day moving average is $445.63 and its two-hundred day moving average is $394.20. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 52.67, a price-to-earnings-growth 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.

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, 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 15.10%. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the business earned $2.08 earnings per share. As a group, 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. 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 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%. Elbit Systems's dividend payout ratio (DPR) is 25.38%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ESLT shares. Wall Street Zen cut 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 on the stock.

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.