Tidal Investments LLC Sells 1,104 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Tidal Investments LLC reduced its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,236 shares of the aerospace company's stock after selling 1,104 shares during the quarter. Tidal Investments LLC's holdings in Elbit Systems were worth $4,706,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Elbit Systems by 7.3% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the aerospace company's stock valued at $255,000 after acquiring an additional 67 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Elbit Systems by 10.1% in the 4th quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company's stock valued at $117,520,000 after purchasing an additional 41,401 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Elbit Systems during the 4th quarter valued at about $590,000. Van ECK Associates Corp grew its stake in Elbit Systems by 3.8% during the fourth quarter. Van ECK Associates Corp now owns 11,559 shares of the aerospace company's stock worth $2,983,000 after purchasing an additional 426 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in Elbit Systems during the fourth quarter worth approximately $41,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Elbit Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th.

Elbit Systems Stock Up 0.6%

Shares of Elbit Systems stock traded up $2.40 during trading on Monday, reaching $378.93. 278,305 shares of the company traded hands, compared to its average volume of 49,898. The firm has a market capitalization of $16.84 billion, a PE ratio of 64.77 and a beta of 0.31. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $426.40. The company has a 50 day moving average price of $393.45 and a 200-day moving average price of $322.61. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.27. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities research analysts expect 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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Tuesday, June 24th. Elbit Systems's payout ratio is 25.25%.

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.