Mitsubishi UFJ Asset Management Co. Ltd. Has $10.20 Million Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Elbit Systems by 8.5% in the fourth quarter, ending with 17,235 shares valued at about $10.2 million.
• Several analysts remain positive on the stock: JPMorgan raised its price target sharply to $930, while the overall consensus rating is now “Moderate Buy” with a $667 average target.
• Elbit Systems reported strong quarterly results, beating EPS and revenue estimates, and also raised its quarterly dividend to $1.00 per share from $0.75.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,235 shares of the aerospace company's stock after acquiring an additional 1,357 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Elbit Systems were worth $10,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new stake in shares of Elbit Systems during the fourth quarter worth about $26,000. Wexford Capital LP acquired a new position in shares of Elbit Systems in the 3rd quarter valued at approximately $63,000. Montag A & Associates Inc. increased its stake in Elbit Systems by 27.8% during the 3rd quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company's stock worth $98,000 after purchasing an additional 42 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Elbit Systems by 24.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company's stock worth $97,000 after purchasing an additional 38 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in Elbit Systems by 99.0% during the 4th quarter. Spire Wealth Management now owns 197 shares of the aerospace company's stock worth $114,000 after buying an additional 98 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Elbit Systems from $580.00 to $930.00 and gave the company a "neutral" rating in a report on Monday, April 13th. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a report on Saturday, January 17th. Finally, Zacks Research raised shares of Elbit Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $667.00.

Insider Buying and Selling at Elbit Systems

In other news, EVP Jonathan Ariel sold 7,654 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ran Kril sold 6,803 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,036,982.20. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,736 shares of company stock worth $61,883,726 in the last ninety days. Insiders own 0.84% of the company's stock.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT opened at $782.21 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $34.77 billion, a P/E ratio of 68.86, a P/E/G ratio of 3.28 and a beta of 0.14. Elbit Systems Ltd. has a 12 month low of $369.60 and a 12 month high of $1,016.06. The stock has a 50 day moving average of $875.19 and a 200-day moving average of $685.58.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.33. Elbit Systems had a return on equity of 15.53% and a net margin of 6.73%.The business had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.09 billion. As a group, equities research analysts predict that Elbit Systems Ltd. will post 15.47 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 27th. Stockholders of record on Monday, April 13th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, April 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Elbit Systems's previous quarterly dividend of $0.75. Elbit Systems's dividend payout ratio is 29.31%.

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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