Millennium Management LLC Cuts Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Millennium Management LLC reduced its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 97.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,078 shares of the aerospace company's stock after selling 36,676 shares during the period. Millennium Management LLC's holdings in Elbit Systems were worth $278,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hurley Capital LLC purchased a new stake in shares of Elbit Systems during the 4th quarter valued at $26,000. Prestige Wealth Management Group LLC boosted its holdings in Elbit Systems by 150.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Elbit Systems during the fourth quarter valued at about $41,000. Smartleaf Asset Management LLC increased its holdings in shares of Elbit Systems by 196.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 106 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Elbit Systems in the 4th quarter valued at approximately $73,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Elbit Systems from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded up $1.77 on Thursday, hitting $431.48. 127,129 shares of the company were exchanged, compared to its average volume of 56,045. The firm has a market capitalization of $19.18 billion, a P/E ratio of 73.76 and a beta of 0.31. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $434.79. The stock's 50 day moving average price is $397.68 and its 200 day moving average price is $336.69.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.27. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same quarter in the previous year, the firm posted $1.81 EPS. Sell-side analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.56%. Elbit Systems's payout ratio is currently 25.25%.

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.