Spectrum Asset Management Inc. NB CA Trims Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Spectrum Asset Management Inc. NB CA reduced its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 53.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the aerospace company's stock after selling 2,055 shares during the quarter. Spectrum Asset Management Inc. NB CA's holdings in Elbit Systems were worth $673,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Hurley Capital LLC bought a new position in shares of Elbit Systems in the 4th quarter worth $26,000. Prestige Wealth Management Group LLC lifted its position in shares of Elbit Systems by 150.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after buying an additional 75 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elbit Systems by 196.3% during 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 in the last quarter. Sierra Ocean LLC purchased a new stake in Elbit Systems during the fourth quarter valued at approximately $41,000. Finally, Tower Research Capital LLC TRC purchased a new position in Elbit Systems in the fourth quarter worth $73,000. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Performance

ESLT stock traded up $1.77 during trading on Thursday, reaching $431.48. The company had a trading volume of 127,129 shares, compared to its average volume of 56,045. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 73.76 and a beta of 0.31. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $434.79. 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 50-day simple moving average of $397.68 and a 200-day simple moving average of $336.69.

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, topping analysts' consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. During the same quarter last year, the company posted $1.81 earnings per share. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share 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. The ex-dividend date is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a yield of 0.56%. Elbit Systems's dividend payout ratio is currently 25.25%.

Analyst Upgrades and Downgrades

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

About Elbit Systems

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.