Systematic Financial Management LP Trims Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Systematic Financial Management LP sharply reduced its Elbit Systems stake in Q1, selling 30,055 shares and leaving just 58 shares valued at about $49,000.
• Elbit Systems reported strong quarterly results, with EPS of $3.87 beating estimates and revenue of $2.19 billion also topping expectations.
• The stock traded up 1.4% to $820.21, while analysts currently have a Hold consensus and an average price target of $803.75.

Systematic Financial Management LP lessened its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 99.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58 shares of the aerospace company's stock after selling 30,055 shares during the period. Systematic Financial Management LP's holdings in Elbit Systems were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in Elbit Systems during the 4th quarter worth $26,000. WPG Advisers LLC bought a new position in shares of Elbit Systems during the first quarter worth about $26,000. Wexford Capital LP bought a new position in shares of Elbit Systems during the third quarter worth about $63,000. Leonteq Securities AG acquired a new position in Elbit Systems in the fourth quarter worth about $68,000. Finally, Hilton Head Capital Partners LLC bought a new stake in Elbit Systems in the fourth quarter valued at about $69,000. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Trading Up 1.4%

Shares of NASDAQ ESLT opened at $820.21 on Friday. Elbit Systems Ltd. has a 12-month low of $432.85 and a 12-month high of $1,016.06. The company has a market cap of $36.46 billion, a price-to-earnings ratio of 66.41, a price-to-earnings-growth ratio of 3.48 and a beta of 0.17. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $793.22 and its 200 day simple moving average is $797.24.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping analysts' consensus estimates of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Equities research analysts expect that Elbit Systems Ltd. will post 15.3 EPS for the current year.

Elbit Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 23rd. Elbit Systems's dividend payout ratio (DPR) is 26.96%.

Analysts Set New Price Targets

Several analysts have issued reports on ESLT shares. Morgan Stanley set a $845.00 price objective on Elbit Systems in a research note on Wednesday, July 15th. JPMorgan Chase & Co. boosted their price target on Elbit Systems from $930.00 to $950.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Zacks Research lowered Elbit Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group reduced their price objective on Elbit Systems from $950.00 to $880.00 and set a "hold" rating on the stock in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $803.75.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.

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