Sumitomo Mitsui Trust Group Inc. Sells 6,320 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 18.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,318 shares of the aerospace company's stock after selling 6,320 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.06% of Elbit Systems worth $10,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Transcend Capital Advisors LLC bought a new stake in Elbit Systems during the 1st quarter valued at $278,000. PDS Planning Inc bought a new position in shares of Elbit Systems in the first quarter worth $235,000. Sequoia Financial Advisors LLC increased its holdings in shares of Elbit Systems by 3.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company's stock worth $575,000 after purchasing an additional 55 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Elbit Systems by 19.6% in the first quarter. Oppenheimer & Co. Inc. now owns 1,196 shares of the aerospace company's stock worth $459,000 after purchasing an additional 196 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Elbit Systems in the first quarter worth $203,000. Institutional investors own 17.88% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 22nd.

Elbit Systems Trading Down 0.2%

Elbit Systems stock opened at $434.53 on Friday. The stock has a market cap of $19.31 billion, a P/E ratio of 55.14 and a beta of 0.33. Elbit Systems Ltd. has a fifty-two week low of $177.85 and a fifty-two week high of $476.04. The firm's fifty day moving average price is $413.26 and its 200-day moving average price is $357.52. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 1.21.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Equities research analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be paid a $0.60 dividend. The ex-dividend date is Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a yield of 0.55%. Elbit Systems's dividend payout ratio is presently 25.38%.

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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