Systematic Financial Management LP Sells 8,986 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Systematic Financial Management LP decreased its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,336 shares of the aerospace company's stock after selling 8,986 shares during the quarter. Systematic Financial Management LP owned approximately 0.15% of Elbit Systems worth $16,861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC boosted its stake in Elbit Systems by 2.9% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 2,094 shares of the aerospace company's stock valued at $540,000 after purchasing an additional 60 shares during the period. Blue Trust Inc. lifted its position in shares of Elbit Systems by 7.3% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the aerospace company's stock worth $255,000 after buying an additional 67 shares during the period. Prestige Wealth Management Group LLC grew its holdings in Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Hurley Capital LLC bought a new stake in shares of Elbit Systems during the fourth quarter worth $26,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 106 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Stock Performance

Elbit Systems stock traded down $0.22 during midday trading on Friday, reaching $376.31. 58,234 shares of the company's stock were exchanged, compared to its average volume of 48,906. The stock's 50-day simple moving average is $394.04 and its 200 day simple moving average is $320.36. Elbit Systems Ltd. has a 52 week low of $175.30 and a 52 week high of $426.40. The firm has a market cap of $16.73 billion, a price-to-earnings ratio of 63.95 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. The company had revenue of $1.90 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. On average, analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be issued 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 0.64%. Elbit Systems's dividend payout ratio (DPR) is presently 27.72%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Elbit Systems from a "strong-buy" rating to a "buy" rating in a 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.