R Squared Ltd Acquires New Shares in Elbit Systems Ltd. $ESLT

Key Points

• R Squared Ltd acquired 802 shares of Elbit Systems Ltd. valued at approximately $360,000 in the 2nd quarter.
• Several hedge funds significantly increased their stakes in Elbit Systems during the 1st quarter, reflecting growing institutional interest in the company.
• Elbit Systems recently raised its quarterly dividend from $0.60 to $0.75 per share, indicating a 0.6% dividend yield.

R Squared Ltd acquired a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 802 shares of the aerospace company's stock, valued at approximately $360,000.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Elbit Systems during the 1st quarter valued at $229,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Elbit Systems during the 1st quarter valued at $203,000. Ballentine Partners LLC acquired a new stake in shares of Elbit Systems during the 1st quarter valued at $220,000. Transcend Capital Advisors LLC acquired a new stake in shares of Elbit Systems during the 1st quarter valued at $278,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Elbit Systems by 23.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,889 shares of the aerospace company's stock valued at $1,492,000 after acquiring an additional 749 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ESLT shares. Weiss Ratings reissued a "hold (c)" rating on shares of Elbit Systems in a report on Friday. Wall Street Zen raised Elbit Systems from a "hold" rating to a "buy" rating in a report on Saturday. JPMorgan Chase & Co. started coverage on Elbit Systems in a report on Tuesday, September 30th. They set a "neutral" rating and a $520.00 target price on the stock. Zacks Research raised Elbit Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 14th. Finally, Bank of America lifted their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $530.00.

Elbit Systems Stock Up 0.7%

Shares of ESLT opened at $491.71 on Friday. The company has a market capitalization of $21.86 billion, a PE ratio of 55.81, a PEG ratio of 1.78 and a beta of 0.33. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock's 50-day moving average price is $491.74 and its two-hundred day moving average price is $446.89. Elbit Systems Ltd. has a 12 month low of $208.53 and a 12 month high of $529.99.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the previous year, the business earned $2.08 EPS. On average, analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's dividend payout ratio (DPR) is presently 28.38%.

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.

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