United Services Automobile Association purchased a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 855 shares of the aerospace company's stock, valued at approximately $339,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position 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 valued at $51,837,000 after purchasing an additional 34,049 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Elbit Systems by 25,436.8% during the 1st quarter. Jones Financial Companies Lllp now owns 4,852 shares of the aerospace company's stock worth $1,862,000 after purchasing an additional 4,833 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Elbit Systems by 3,461.1% during the 1st quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company's stock worth $246,000 after purchasing an additional 623 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Elbit Systems by 61.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,779 shares of the aerospace company's stock worth $38,533,000 after purchasing an additional 38,305 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Elbit Systems during the 1st quarter worth about $353,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.
Elbit Systems Trading Up 1.2%
Shares of ESLT stock traded up $5.93 during mid-day trading on Tuesday, reaching $509.35. The stock had a trading volume of 53,025 shares, compared to its average volume of 106,418. The stock's 50-day moving average price is $465.22 and its two-hundred day moving average price is $422.86. Elbit Systems Ltd. has a 52-week low of $188.53 and a 52-week high of $510.58. The firm has a market capitalization of $22.64 billion, a PE ratio of 57.78, a price-to-earnings-growth ratio of 1.91 and a beta of 0.37. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.
Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same quarter in the previous year, the company earned $2.08 earnings per share. Equities analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share 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. Stockholders of record on Tuesday, October 14th will be paid 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 of this dividend is Tuesday, October 14th. This is a positive change from Elbit Systems's previous quarterly dividend of $0.60. Elbit Systems's payout ratio is presently 28.26%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. 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 report on Tuesday, August 26th. Wall Street Zen upgraded shares of Elbit Systems from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Elbit Systems has an average rating of "Buy" and a consensus price target of $540.00.
Check Out Our Latest Stock Analysis on ESLT
About Elbit Systems
(
Free Report)
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.
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