Orser Capital Management LLC acquired a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,903 shares of the aerospace company's stock, valued at approximately $2,203,000. Elbit Systems accounts for 1.1% of Orser Capital Management LLC's holdings, making the stock its 28th largest holding.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. increased its position in Elbit Systems by 709.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company's stock worth $50,948,000 after acquiring an additional 77,192 shares during the period. UBS Group AG boosted its holdings in Elbit Systems by 35.5% in the 4th quarter. UBS Group AG now owns 126,864 shares of the aerospace company's stock valued at $73,291,000 after purchasing an additional 33,235 shares during the period. Vanguard Group Inc. grew its position in shares of Elbit Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company's stock worth $573,131,000 after purchasing an additional 13,406 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Elbit Systems by 8.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,235 shares of the aerospace company's stock worth $10,202,000 after purchasing an additional 1,357 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Elbit Systems by 101.9% during the fourth quarter. HighTower Advisors LLC now owns 8,807 shares of the aerospace company's stock worth $5,084,000 after purchasing an additional 4,444 shares during the period. Institutional investors and hedge funds own 17.88% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ESLT. Jefferies Financial Group dropped 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. Zacks Research lowered Elbit Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lifted their price objective on Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Finally, Morgan Stanley set a $845.00 target price on Elbit Systems in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $803.75.
View Our Latest Analysis on Elbit Systems
Elbit Systems Trading Down 0.8%
Shares of Elbit Systems stock opened at $857.00 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. 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 capitalization of $38.09 billion, a price-to-earnings ratio of 69.39, a PEG ratio of 3.67 and a beta of 0.17. The firm's 50-day moving average price is $797.67 and its two-hundred day moving average price is $806.54.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.89. The business had revenue of $2.19 billion during 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, analysts forecast that Elbit Systems Ltd. will post 15.3 earnings per share for the current fiscal year.
Elbit Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were given a dividend of $1.00 per share. 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 currently 26.96%.
About Elbit Systems
(
Free Report)
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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