Navellier & Associates Inc. Grows Stock Position in Elbit Systems Ltd. $ESLT

Navellier & Associates Inc. increased its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 10.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,247 shares of the aerospace company's stock after acquiring an additional 1,514 shares during the period. Elbit Systems comprises about 1.0% of Navellier & Associates Inc.'s holdings, making the stock its 23rd largest holding. Navellier & Associates Inc.'s holdings in Elbit Systems were worth $12,327,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd increased its stake in Elbit Systems by 34.4% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company's stock worth $893,941,000 after purchasing an additional 397,049 shares during the period. Lazard Asset Management LLC bought a new stake in Elbit Systems in the third quarter valued at approximately $172,673,000. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Elbit Systems by 206.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company's stock valued at $228,914,000 after purchasing an additional 181,524 shares during the period. Jennison Associates LLC purchased a new stake in shares of Elbit Systems during the first quarter valued at approximately $128,135,000. Finally, Bank of America Corp DE grew its holdings in shares of Elbit Systems by 125.0% in the third quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company's stock worth $84,848,000 after purchasing an additional 92,449 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $708.68 on Friday. The firm has a market capitalization of $31.50 billion, a price-to-earnings ratio of 53.40, a PEG ratio of 2.99 and a beta of 0.17. The stock has a fifty day moving average of $775.16 and a 200 day moving average of $812.29. Elbit Systems Ltd. has a 52 week low of $453.00 and a 52 week high of $1,016.06. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.69 by $0.45. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. As a group, research analysts expect that Elbit Systems Ltd. will post 15.61 earnings per share for the current year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, October 13th. This represents a $4.00 annualized dividend and a dividend yield of 0.6%. Elbit Systems's payout ratio is currently 25.09%.

Analysts Set New Price Targets

A number of research firms recently commented on ESLT. Zacks Research lowered shares of Elbit Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on shares of Elbit Systems from $950.00 to $885.00 and set a "neutral" rating on the stock in a report on Wednesday, August 19th. Weiss Ratings cut shares of Elbit Systems from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Jefferies Financial Group lowered their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a "hold" rating for the company in a research note on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 price objective on shares of Elbit Systems in a research note on Wednesday, July 15th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $870.00.

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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