Redhawk Wealth Advisors Inc. Purchases Shares of 3,804 Elbit Systems Ltd. $ESLT

Key Points

• Redhawk Wealth Advisors Inc. acquired 3,804 shares of Elbit Systems Ltd. for approximately $1,710,000 during the second quarter, signaling interest from institutional investors in the aerospace company.
• Elbit Systems recently reported earnings of $3.23 per share, exceeding expectations, and announced a quarterly dividend increase to $0.75 per share, reflecting positive financial performance.
• Wall Street analysts upgraded Elbit Systems to a "buy" rating and raised the price target from $500 to $540, indicating strong growth potential for the stock.

Redhawk Wealth Advisors Inc. purchased a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,804 shares of the aerospace company's stock, valued at approximately $1,710,000.

Other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in Elbit Systems in the 1st quarter valued at approximately $29,000. SBI Securities Co. Ltd. lifted its holdings in Elbit Systems by 232.6% in the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after acquiring an additional 107 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Elbit Systems during the first quarter valued at approximately $77,000. Plato Investment Management Ltd acquired a new position in shares of Elbit Systems during the first quarter valued at approximately $87,000. Finally, National Bank of Canada FI increased its stake in shares of Elbit Systems by 8.6% during the first quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock valued at $151,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 17.88% of the company's stock.

Analyst Ratings Changes

ESLT has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $540.00.

Elbit Systems Stock Performance

ESLT traded up $2.76 during trading on Monday, hitting $490.73. 84,256 shares of the company traded hands, compared to its average volume of 107,035. The firm has a market cap of $21.81 billion, a P/E ratio of 55.53, a price-to-earnings-growth ratio of 1.73 and a beta of 0.37. The stock's fifty day moving average is $468.69 and its 200 day moving average is $426.95. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a one year low of $190.78 and a one year high of $510.58.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.57 by $0.66. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. 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 prior year, the firm earned $2.08 earnings per share. As a group, equities analysts predict 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. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This is an increase from Elbit Systems's previous quarterly dividend of $0.60. This represents a $3.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's payout ratio is 28.26%.

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.