LPL Financial LLC Purchases 4,307 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Key Points

• LPL Financial LLC increased its stake in Elbit Systems Ltd. by 75.1%, acquiring an additional 4,307 shares to bring its total holdings to 10,039 shares valued at approximately $3.85 million.
• Elbit Systems recently reported quarterly earnings of $3.23 per share, exceeding estimates of $2.57, alongside revenues of $1.97 billion, beating predictions of $1.89 billion.
• The company announced an increase in its quarterly dividend to $0.75 per share, up from $0.60, set to be paid to investors on October 27th.

LPL Financial LLC boosted its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 75.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,039 shares of the aerospace company's stock after purchasing an additional 4,307 shares during the period. LPL Financial LLC's holdings in Elbit Systems were worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in shares of Elbit Systems by 4.2% during the fourth quarter. Nuveen Asset Management LLC now owns 71,799 shares of the aerospace company's stock valued at $18,779,000 after acquiring an additional 2,892 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Elbit Systems by 26.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,474 shares of the aerospace company's stock valued at $16,340,000 after acquiring an additional 12,891 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Elbit Systems by 52.7% during the fourth quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company's stock valued at $11,069,000 after acquiring an additional 14,612 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Elbit Systems by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 38,786 shares of the aerospace company's stock valued at $10,010,000 after acquiring an additional 360 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Elbit Systems by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,349 shares of the aerospace company's stock valued at $2,961,000 after acquiring an additional 163 shares in the last quarter. Institutional investors own 17.88% of the company's stock.

Analyst Upgrades and Downgrades

ESLT has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America initiated coverage on shares of Elbit Systems in a research note on Thursday, July 24th. They set a "buy" rating and a $500.00 price target for the company.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $464.00 on Friday. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 52.67, a PEG ratio of 1.79 and a beta of 0.33. The company's 50 day moving average is $446.50 and its 200 day moving average is $395.36. The company has a quick ratio of 0.70, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a 52-week low of $188.53 and a 52-week high of $494.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.66. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same period last year, the company posted $2.08 earnings per share. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems's dividend payout ratio is 25.38%.

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.

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