Voloridge Investment Management LLC Makes New Investment in Elbit Systems Ltd. (NASDAQ:ESLT)

Voloridge Investment Management LLC purchased a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,731 shares of the aerospace company's stock, valued at approximately $1,479,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hurley Capital LLC purchased a new stake in shares of Elbit Systems during the fourth quarter worth approximately $26,000. Prestige Wealth Management Group LLC grew its holdings in Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems in the 4th quarter valued at approximately $41,000. Smartleaf Asset Management LLC raised its holdings in shares of Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Elbit Systems during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 17.88% of the company's stock.

Elbit Systems Stock Up 1.6%

Shares of NASDAQ:ESLT traded up $6.52 on Monday, hitting $416.13. 155,547 shares of the company's stock were exchanged, compared to its average volume of 52,840. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $426.40. The company has a market capitalization of $18.50 billion, a PE ratio of 71.13 and a beta of 0.31. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The firm's 50-day moving average is $392.64 and its 200 day moving average is $329.38.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. The firm had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.69 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. During the same quarter in the previous year, the business earned $1.81 earnings per share. Sell-side analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, June 24th. This represents a $2.40 annualized dividend and a dividend yield of 0.58%. Elbit Systems's dividend payout ratio is presently 25.25%.

Wall Street Analyst Weigh In

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

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.