Harel Insurance Investments & Financial Services Ltd. Decreases Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Harel Insurance Investments & Financial Services Ltd. lessened its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,283 shares of the aerospace company's stock after selling 1,277 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in Elbit Systems were worth $8,166,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Investment Counsel Inc acquired a new stake in shares of Elbit Systems during the first quarter worth $289,000. Summit Trail Advisors LLC purchased a new position in Elbit Systems in the 1st quarter worth $208,000. Transcend Capital Advisors LLC acquired a new stake in Elbit Systems during the 1st quarter worth about $278,000. PDS Planning Inc purchased a new stake in Elbit Systems during the 1st quarter valued at about $235,000. Finally, Sequoia Financial Advisors LLC grew its stake in Elbit Systems by 3.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock valued at $575,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded down $1.05 during trading on Friday, hitting $434.53. 77,887 shares of the stock traded hands, compared to its average volume of 64,530. 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 company has a fifty day moving average price of $413.26 and a two-hundred day moving average price of $357.52. Elbit Systems Ltd. has a 52-week low of $177.85 and a 52-week high of $476.04. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 55.14 and a beta of 0.33.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.27. Elbit Systems had a net margin of 4.95% and a return on equity of 13.49%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same period in the prior year, the company posted $1.81 EPS. As a group, equities analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems's payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

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.