Jump Financial LLC Takes $3.71 Million Position in Elbit Systems Ltd. $ESLT

Key Points

• Jump Financial LLC has acquired a new stake in Elbit Systems Ltd., purchasing 9,671 shares valued at approximately $3.71 million.
• Elbit Systems recently declared a quarterly dividend of $0.75 per share, increasing from the previous $0.60, with an upcoming payment date of October 27th.
• The company's most recent quarterly earnings report showed an EPS of $3.23, exceeding the consensus estimate of $2.57, indicating strong financial performance.

Jump Financial LLC purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,671 shares of the aerospace company's stock, valued at approximately $3,711,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SVB Wealth LLC acquired a new position in Elbit Systems in the first quarter worth $77,000. Hsbc Holdings PLC increased its holdings in shares of Elbit Systems by 40.4% in the 1st quarter. Hsbc Holdings PLC now owns 11,169 shares of the aerospace company's stock worth $4,260,000 after acquiring an additional 3,213 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Elbit Systems in the 1st quarter worth about $794,000. Korea Investment CORP increased its holdings in shares of Elbit Systems by 88.5% in the 1st quarter. Korea Investment CORP now owns 15,238 shares of the aerospace company's stock worth $5,826,000 after acquiring an additional 7,155 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Elbit Systems in the 1st quarter worth about $155,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Elbit Systems Price Performance

NASDAQ ESLT traded down $1.35 on Thursday, reaching $485.08. The company's stock had a trading volume of 120,273 shares, compared to its average volume of 159,282. Elbit Systems Ltd. has a twelve month low of $188.53 and a twelve month high of $499.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a market cap of $21.56 billion, a PE ratio of 55.06, a PEG ratio of 1.82 and a beta of 0.33. The firm's 50 day moving average is $452.27 and its two-hundred day moving average is $405.45.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly 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 net margin of 5.35% and a return on equity of 14.29%. The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $2.08 EPS. As a group, sell-side analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

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

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.