Vanguard Personalized Indexing Management LLC Raises Stock Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Elbit Systems Ltd. by 15.7%, owning a total of 3,801 shares valued at approximately $1.7 million.
• Elbit Systems declared a quarterly dividend of $0.75 per share, increasing from the previous $0.60, with a dividend yield of 0.6%.
• JPMorgan Chase & Co. initiated coverage on Elbit Systems with a "neutral" rating and a price target of $520.00, while Zacks Research upgraded the stock to a "strong-buy" rating.

Vanguard Personalized Indexing Management LLC increased its position in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 15.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,801 shares of the aerospace company's stock after acquiring an additional 515 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Elbit Systems were worth $1,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in Elbit Systems in the 1st quarter worth $29,000. SBI Securities Co. Ltd. raised its stake in Elbit Systems by 232.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company's stock worth $59,000 after acquiring an additional 107 shares during the last quarter. SVB Wealth LLC purchased a new position in Elbit Systems in the 1st quarter worth $77,000. Grove Bank & Trust raised its stake in Elbit Systems by 1,900.0% in the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company's stock worth $90,000 after acquiring an additional 190 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Elbit Systems during the 1st quarter valued at about $87,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

Wall Street Analyst Weigh In

ESLT has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a research note on Tuesday, September 30th. They set a "neutral" rating and a $520.00 price objective for the company. Wall Street Zen lowered Elbit Systems from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Zacks Research upgraded Elbit Systems from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Bank of America lifted their price objective on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Elbit Systems in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $530.00.

Elbit Systems Stock Down 2.1%

ESLT stock opened at $491.65 on Friday. The firm has a market cap of $21.85 billion, a PE ratio of 55.81, a PEG ratio of 1.83 and a beta of 0.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The firm's 50 day moving average price is $487.80 and its 200-day moving average price is $442.47. Elbit Systems Ltd. has a one year low of $207.71 and a one year high of $529.99.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.57 by $0.66. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates 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 EPS. On average, equities research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date of this dividend 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 28.38%.

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.

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