Point72 Asset Management L.P. Trims Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Point72 Asset Management L.P. lessened its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 73.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,791 shares of the aerospace company's stock after selling 5,009 shares during the period. Point72 Asset Management L.P.'s holdings in Elbit Systems were worth $462,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ESLT. 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 lifted its holdings in shares of Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems during the 4th quarter valued at $41,000. Smartleaf Asset Management LLC raised its stake in Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock worth $41,000 after acquiring an additional 106 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Elbit Systems in the 4th quarter worth $73,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Elbit Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th.

Elbit Systems Stock Performance

ESLT stock traded up $6.48 during midday trading on Tuesday, reaching $385.41. The stock had a trading volume of 250,244 shares, compared to its average volume of 50,700. The stock has a market cap of $17.13 billion, a PE ratio of 65.88 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The firm has a fifty day simple moving average of $392.82 and a two-hundred day simple moving average of $323.65. Elbit Systems Ltd. has a 52-week low of $175.30 and a 52-week high of $426.40.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (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 analyst estimates 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 last year, the business posted $1.81 EPS. As a group, equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors 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 yield of 0.62%. Elbit Systems's dividend payout ratio (DPR) is 25.25%.

Elbit Systems Company Profile

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.