Goldman Sachs Group Inc. Sells 16,427 Shares of Elbit Systems Ltd. $ESLT

Key Points

• Goldman Sachs cut its stake in Elbit Systems by 6.5% in the fourth quarter, selling 16,427 shares and leaving it with 235,770 shares valued at about $136.2 million.
• Elbit Systems posted strong quarterly results, reporting EPS of $3.87 versus the $2.98 estimate and revenue of $2.19 billion, while analysts now expect full-year EPS of 15.94.
• Insider selling and a dividend update: CEO Bezhalel Machlis and EVP Oren Yaacov Sabag recently sold shares, and the company declared a quarterly dividend of $1.00 per share payable July 6.

Goldman Sachs Group Inc. reduced its holdings in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,770 shares of the aerospace company's stock after selling 16,427 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Elbit Systems were worth $136,207,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Elbit Systems by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company's stock valued at $573,131,000 after purchasing an additional 13,406 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company's stock worth $330,404,000 after purchasing an additional 628,236 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Elbit Systems by 3.0% during the fourth quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company's stock worth $356,345,000 after purchasing an additional 18,289 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Elbit Systems by 2.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company's stock valued at $246,121,000 after buying an additional 12,003 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Elbit Systems by 10.0% in the third quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company's stock valued at $189,090,000 after buying an additional 33,619 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $7,546,449.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bezhalel Machlis sold 25,514 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $22,641,123.60. The SEC filing for this sale provides additional information. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last three months. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ESLT. Jefferies Financial Group reiterated a "hold" rating and set a $950.00 price target on shares of Elbit Systems in a research report on Wednesday, May 27th. Zacks Research raised shares of Elbit Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $742.75.

Elbit Systems Price Performance

Elbit Systems stock opened at $830.16 on Tuesday. The business's 50-day simple moving average is $843.24 and its 200 day simple moving average is $736.22. The stock has a market cap of $36.90 billion, a price-to-earnings ratio of 67.22, a P/E/G ratio of 3.35 and a beta of 0.14. Elbit Systems Ltd. has a 12-month low of $407.76 and a 12-month high of $1,016.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.89. The firm had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. As a group, research analysts anticipate that Elbit Systems Ltd. will post 15.94 earnings per share for the current year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems's dividend payout ratio is 26.96%.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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