SteelPeak Wealth LLC Makes New Investment in Elbit Systems Ltd. $ESLT

Key Points

• SteelPeak Wealth LLC has invested approximately $829,000 in Elbit Systems Ltd. by acquiring 1,843 shares in the second quarter.
• Elbit Systems has recently increased its quarterly dividend from $0.60 to $0.75 per share, with a payout date of October 27th for investors of record as of October 14th.
• Analyst ratings for Elbit Systems are mixed, with one buy rating, two hold ratings, and a consensus target price of $530.00 from various financial institutions.

SteelPeak Wealth LLC purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,843 shares of the aerospace company's stock, valued at approximately $829,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clarius Group LLC boosted its holdings in Elbit Systems by 10.0% in the 2nd quarter. Clarius Group LLC now owns 1,099 shares of the aerospace company's stock worth $494,000 after acquiring an additional 100 shares during the period. Chicago Capital LLC purchased a new position in Elbit Systems in the 2nd quarter worth approximately $3,975,000. Janney Montgomery Scott LLC boosted its stake in shares of Elbit Systems by 8.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 647 shares of the aerospace company's stock valued at $291,000 after buying an additional 50 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Elbit Systems by 11.8% during the 2nd quarter. Signaturefd LLC now owns 1,565 shares of the aerospace company's stock valued at $703,000 after buying an additional 165 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Elbit Systems by 11.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,251 shares of the aerospace company's stock valued at $2,342,000 after buying an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

Wall Street Analyst Weigh In

ESLT has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a research note on Tuesday, September 30th. They set a "neutral" rating and a $520.00 target price for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Elbit Systems in a research note on Wednesday. Wall Street Zen cut Elbit Systems from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Elbit Systems has an average rating of "Hold" and a consensus target price of $530.00.

Elbit Systems Stock Performance

Shares of ESLT opened at $523.00 on Thursday. The business's fifty day moving average price is $484.30 and its 200 day moving average price is $437.80. Elbit Systems Ltd. has a 12-month low of $203.04 and a 12-month high of $529.99. The stock has a market capitalization of $23.25 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.

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, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the business posted $2.08 earnings per share. Equities research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.6%. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, October 14th. Elbit Systems's dividend payout ratio (DPR) is 22.70%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.