Trexquant Investment LP Acquires 10,591 Shares of Elbit Systems Ltd. $ESLT

Key Points

• Trexquant Investment LP significantly increased its stake in Elbit Systems Ltd. by 1,155%, acquiring a total of 11,508 shares valued at approximately $4.4 million.
• Elbit Systems has recently been upgraded to a "buy" rating by Wall Street Zen, with a new target price of $540, reflecting analysts' positive outlook on the stock.
• The company declared a quarterly dividend of $0.75, a notable increase from the previous $0.60, showcasing its commitment to returning value to shareholders.

Trexquant Investment LP grew its holdings in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 1,155.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,508 shares of the aerospace company's stock after buying an additional 10,591 shares during the quarter. Trexquant Investment LP's holdings in Elbit Systems were worth $4,415,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in shares of Elbit Systems in the 1st quarter valued at $29,000. SBI Securities Co. Ltd. increased its position in Elbit Systems by 232.6% in 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 bought a new stake in Elbit Systems during the 4th quarter worth about $73,000. SVB Wealth LLC acquired a new position in Elbit Systems during the 1st quarter valued at about $77,000. Finally, National Bank of Canada FI boosted its stake in shares of Elbit Systems by 8.6% in the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company's stock valued at $151,000 after purchasing an additional 31 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Trading Up 0.5%

NASDAQ ESLT traded up $2.50 during trading on Friday, reaching $482.04. 129,473 shares of the stock traded hands, compared to its average volume of 129,507. Elbit Systems Ltd. has a fifty-two week low of $188.53 and a fifty-two week high of $499.00. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 1.80 and a beta of 0.37. The stock's 50-day moving average price is $457.85 and its 200 day moving average price is $412.96.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The company had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the company earned $2.08 earnings per share. Analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.6%. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's payout ratio is currently 22.70%.

Wall Street Analysts Forecast Growth

ESLT has been the subject of a number of recent research reports. Wall Street Zen raised shares of Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America upped their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $540.00.

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.