Krane Financial Solutions LLC Takes $1.44 Million Position in Elbit Systems Ltd. $ESLT

Key Points

• Krane Financial Solutions LLC acquired 1,700 Elbit Systems shares worth approximately $1.44 million during the first quarter, making ESLT its 18th-largest holding and about 1% of its portfolio.
• Elbit Systems reported quarterly adjusted earnings of $3.87 per share, beating estimates by $0.89, while revenue of $2.19 billion also exceeded forecasts. The company declared a quarterly dividend of $1.00, or $4.00 annually, for a 0.5% yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $803.75, below the stock’s reported $808.65 opening price.

Krane Financial Solutions LLC acquired a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,700 shares of the aerospace company's stock, valued at approximately $1,443,000. Elbit Systems comprises about 1.0% of Krane Financial Solutions LLC's holdings, making the stock its 18th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of ESLT. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Elbit Systems by 4.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company's stock worth $1,351,958,000 after acquiring an additional 69,165 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Elbit Systems by 1.4% during the fourth 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. Y.D. More Investments Ltd raised its position in shares of Elbit Systems by 3.0% during the 4th 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 period. Arrowstreet Capital Limited Partnership raised its position in shares of Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company's stock worth $246,121,000 after purchasing an additional 12,003 shares during the period. Finally, Meitav Investment House Ltd. lifted its holdings in shares of Elbit Systems by 8.9% in the 1st quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company's stock worth $332,985,000 after purchasing an additional 32,617 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT opened at $808.65 on Friday. Elbit Systems Ltd. has a 12-month low of $432.85 and a 12-month high of $1,016.06. The company has a market cap of $35.94 billion, a PE ratio of 65.48, a P/E/G ratio of 3.43 and a beta of 0.17. The stock has a 50 day simple moving average of $796.49 and a 200-day simple moving average of $802.21. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.89. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. On average, equities research analysts forecast that Elbit Systems Ltd. will post 15.3 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, June 23rd. Elbit Systems's dividend payout ratio is 26.96%.

Analysts Set New Price Targets

ESLT has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Elbit Systems from $930.00 to $950.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Zacks Research cut Elbit Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 24th. Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a report on Wednesday, July 15th. Finally, Jefferies Financial Group lowered their price target on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $803.75.

Elbit Systems 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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