Informed Momentum Co LLC acquired a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,818 shares of the aerospace company's stock, valued at approximately $1,460,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. LPL Financial LLC lifted its position in Elbit Systems by 32.9% in the fourth quarter. LPL Financial LLC now owns 5,732 shares of the aerospace company's stock valued at $1,479,000 after purchasing an additional 1,420 shares during the last quarter. Geode Capital Management LLC lifted its position in Elbit Systems by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 38,786 shares of the aerospace company's stock valued at $10,010,000 after purchasing an additional 360 shares during the last quarter. Cerity Partners LLC lifted its position in Elbit Systems by 21.1% in the fourth quarter. Cerity Partners LLC now owns 3,823 shares of the aerospace company's stock valued at $950,000 after purchasing an additional 665 shares during the last quarter. Renaissance Technologies LLC lifted its position in Elbit Systems by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,700 shares of the aerospace company's stock valued at $1,471,000 after purchasing an additional 400 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Elbit Systems in the fourth quarter valued at approximately $1,999,000. Hedge funds and other institutional investors own 17.88% of the company's stock.
Elbit Systems Stock Performance
Shares of NASDAQ:ESLT traded up $4.23 during midday trading on Friday, reaching $464.00. 81,571 shares of the company's stock traded hands, compared to its average volume of 105,540. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 1.80 and a beta of 0.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 1.21. Elbit Systems Ltd. has a one year low of $188.53 and a one year high of $494.32. The stock has a 50 day moving average of $445.63 and a 200 day moving average of $394.20.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 15.10% and a net margin of 5.35%. 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 prior year, the company earned $2.08 earnings per share. As a group, equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.
Elbit Systems Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems's dividend payout ratio is 25.38%.
Analyst Upgrades and Downgrades
ESLT has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Elbit Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America initiated coverage on Elbit Systems in a report on Thursday, July 24th. They set a "buy" rating and a $500.00 target price for the company.
Get Our Latest Research Report on ESLT
Elbit Systems Profile
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Free Report)
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.
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