Point72 Asset Management L.P. Lowers Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Point72 Asset Management L.P. decreased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 73.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 reporting period.

Several other hedge funds also recently bought and sold shares of ESLT. Hurley Capital LLC purchased a new stake in shares of Elbit Systems in the fourth quarter valued at $26,000. Prestige Wealth Management Group LLC grew its position in shares of Elbit Systems by 150.0% in the fourth 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 period. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems in the fourth quarter valued at $41,000. Smartleaf Asset Management LLC grew its position in shares of Elbit Systems by 196.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 106 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Elbit Systems in the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

Elbit Systems Trading Up 1.2%

Shares of NASDAQ:ESLT traded up $4.54 during midday trading on Thursday, reaching $399.26. The company's stock had a trading volume of 74,510 shares, compared to its average volume of 51,503. The firm has a market cap of $17.75 billion, a price-to-earnings ratio of 68.27 and a beta of 0.31. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 1 year low of $175.30 and a 1 year high of $426.40. The business has a 50 day moving average price of $391.94 and a 200 day moving average price of $324.56.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.27. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. Research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Tuesday, June 24th. Elbit Systems's dividend payout ratio (DPR) is presently 25.25%.

Wall Street Analysts Forecast Growth

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

Elbit Systems 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.