855 Shares in Elbit Systems Ltd. $ESLT Acquired by United Services Automobile Association

Key Points

• United Services Automobile Association acquired 855 shares of Elbit Systems Ltd., amounting to approximately $339,000, indicating growing institutional interest in the company during the first quarter.
• Elbit Systems reported a Q2 EPS of $3.23, surpassing analyst expectations by $0.66, and achieved a net revenue of $1.97 billion for the quarter.
• The company announced an increase in its quarterly dividend to $0.75, up from $0.60, reflecting its confidence in maintaining a dividend payout ratio of 22.70%.

United Services Automobile Association bought a new position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 855 shares of the aerospace company's stock, valued at approximately $339,000.

Several other institutional investors have also recently made changes to their positions in ESLT. Clal Insurance Enterprises Holdings Ltd grew its stake in Elbit Systems by 0.3% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company's stock worth $520,189,000 after purchasing an additional 4,248 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Elbit Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock valued at $341,276,000 after purchasing an additional 15,552 shares during the period. Y.D. More Investments Ltd boosted its holdings in Elbit Systems by 0.6% in the first quarter. Y.D. More Investments Ltd now owns 452,288 shares of the aerospace company's stock valued at $173,349,000 after purchasing an additional 2,541 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Elbit Systems by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company's stock worth $51,837,000 after buying an additional 34,049 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Elbit Systems by 61.2% in the first quarter. Deutsche Bank AG now owns 117,083 shares of the aerospace company's stock valued at $44,922,000 after buying an additional 44,459 shares in the last quarter. Institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded down $38.10 on Wednesday, reaching $469.85. 92,880 shares of the company's stock were exchanged, compared to its average volume of 106,504. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 53.70, a PEG ratio of 1.89 and a beta of 0.37. Elbit Systems Ltd. has a twelve month low of $188.53 and a twelve month high of $510.58. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $466.55 and a 200-day moving average of $423.45.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $2.08 EPS. On average, research analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Tuesday, October 14th. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's dividend payout ratio is presently 22.70%.

Analysts Set New Price Targets

Several research firms recently issued reports on ESLT. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a research report 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 stock a "buy" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $540.00.

Elbit Systems Company 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.