Phoenix Financial Ltd. purchased a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the aerospace company's stock, valued at approximately $11,250,000. Phoenix Financial Ltd. owned about 0.06% of Elbit Systems as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Elbit Systems during the 2nd quarter valued at $28,000. Larson Financial Group LLC purchased a new position in shares of Elbit Systems during the first quarter valued at about $29,000. SBI Securities Co. Ltd. increased its position in shares of Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock valued at $59,000 after buying an additional 107 shares during the period. SVB Wealth LLC purchased a new position in shares of Elbit Systems during the first quarter valued at about $77,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Elbit Systems during the first quarter valued at about $87,000. 17.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
ESLT has been the topic of several research analyst reports. Zacks Research upgraded shares of Elbit Systems from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Elbit Systems from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a research report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price target on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Elbit Systems in a research report on Wednesday, October 8th. Finally, Bank of America boosted their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Elbit Systems currently has a consensus rating of "Moderate Buy" and a consensus price target of $530.00.
Get Our Latest Report on Elbit Systems
Elbit Systems Stock Up 2.2%
ESLT stock opened at $490.65 on Tuesday. Elbit Systems Ltd. has a twelve month low of $207.71 and a twelve month high of $529.99. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $21.81 billion, a PE ratio of 55.69, a price-to-earnings-growth ratio of 1.75 and a beta of 0.33. The business has a 50 day moving average of $489.34 and a 200 day moving average of $444.71.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $2.08 earnings per share. On average, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.
Elbit Systems Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems's payout ratio is currently 28.38%.
About Elbit Systems
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding ESLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Elbit Systems Ltd. (NASDAQ:ESLT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Elbit Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Elbit Systems wasn't on the list.
While Elbit Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
