Hsbc Holdings PLC Buys 3,213 Shares of Elbit Systems Ltd. $ESLT

Key Points

• Hsbc Holdings PLC increased its stake in Elbit Systems Ltd. by 40.4%, acquiring an additional 3,213 shares, bringing its total to 11,169 shares valued at approximately $4.26 million.
• Elbit Systems recently reported surprising quarterly earnings with $3.23 EPS, outpacing estimates, and announced an increased quarterly dividend from $0.60 to $0.75 per share.
• Several institutional investors, including Deutsche Bank and Vanguard Group, have raised their positions in Elbit Systems, indicating growing confidence in the company's outlook.

Hsbc Holdings PLC lifted its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 40.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,169 shares of the aerospace company's stock after purchasing an additional 3,213 shares during the period. Hsbc Holdings PLC's holdings in Elbit Systems were worth $4,260,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC bought a new stake in shares of Elbit Systems in the first quarter worth $229,000. Cambridge Investment Research Advisors Inc. bought a new stake in Elbit Systems during the first quarter valued at $203,000. Yousif Capital Management LLC bought a new stake in Elbit Systems during the first quarter valued at $262,000. Ballentine Partners LLC bought a new stake in Elbit Systems during the first quarter valued at $220,000. Finally, GAMMA Investing LLC grew its position in shares of Elbit Systems by 38,268.4% during the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company's stock worth $2,797,000 after acquiring an additional 7,271 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ESLT. Bank of America increased their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen lowered shares of Elbit Systems from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $540.00.

Elbit Systems Stock Performance

ESLT traded down $1.35 during trading on Thursday, reaching $485.08. 120,273 shares of the company's stock were exchanged, compared to its average volume of 159,282. Elbit Systems Ltd. has a fifty-two week low of $188.53 and a fifty-two week high of $499.00. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $452.27 and a 200 day moving average price of $405.45. The company has a market capitalization of $21.56 billion, a P/E ratio of 55.06, a PEG ratio of 1.82 and a beta of 0.33.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the previous year, the company earned $2.08 EPS. As a group, analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, October 14th. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems's dividend payout ratio is currently 22.70%.

About Elbit Systems

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.