TD Asset Management Inc Raises Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Key Points

• TD Asset Management Inc increased its stake in Elbit Systems Ltd. by 10.2%, purchasing an additional 939 shares during the first quarter, bringing its total holdings to 10,139 shares valued at approximately $3.88 million.
• Elbit Systems recently reported earnings of $2.57 per share, surpassing estimates, with quarterly revenue reaching $1.90 billion.
• The company declared a quarterly dividend of $0.60 per share, representing an annual yield of 0.5%, with a payout ratio of 25.38%.

TD Asset Management Inc increased its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 10.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,139 shares of the aerospace company's stock after acquiring an additional 939 shares during the period. TD Asset Management Inc's holdings in Elbit Systems were worth $3,877,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new position in Elbit Systems during the 4th quarter worth $26,000. Larson Financial Group LLC acquired a new position in shares of Elbit Systems in the first quarter valued at about $29,000. SBI Securities Co. Ltd. lifted its holdings in shares of Elbit Systems by 232.6% during the first quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after purchasing an additional 107 shares during the period. Tower Research Capital LLC TRC acquired a new position in Elbit Systems in the 4th quarter worth approximately $73,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Elbit Systems during the 1st quarter worth approximately $203,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America started coverage on shares of Elbit Systems in a research report on Thursday, July 24th. They set a "buy" rating and a $500.00 target price for the company. 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 Price Performance

Elbit Systems stock traded up $0.24 during trading on Wednesday, reaching $484.23. The company had a trading volume of 91,110 shares, compared to its average volume of 102,828. The firm has a market capitalization of $21.52 billion, a PE ratio of 61.45, a price-to-earnings-growth ratio of 1.91 and a beta of 0.33. The firm's 50-day simple moving average is $439.38 and its 200 day simple moving average is $387.21. 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 Ltd. has a 1-year low of $183.05 and a 1-year high of $494.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced 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. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.69 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. As a group, equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th were given a $0.60 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems's dividend payout ratio is 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.