Wealth Enhancement Advisory Services LLC Has $17.57 Million Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Elbit Systems by 13.3%, selling 6,063 shares, resulting in ownership of approximately 39,545 shares valued at $17.57 million.
• Elbit Systems has recently received a higher price target from Bank of America, raising it from $500 to $540, and the stock holds a consensus rating of "Buy."
• The company declared a quarterly dividend increase to $0.75 per share, up from $0.60, with a scheduled payment date of October 27th.

Wealth Enhancement Advisory Services LLC lessened its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 13.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,545 shares of the aerospace company's stock after selling 6,063 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.09% of Elbit Systems worth $17,570,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in shares of Elbit Systems in the 1st quarter worth approximately $229,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Elbit Systems in the 1st quarter worth approximately $203,000. Yousif Capital Management LLC bought a new stake in shares of Elbit Systems in the 1st quarter worth approximately $262,000. Ballentine Partners LLC bought a new stake in shares of Elbit Systems in the 1st quarter worth approximately $220,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Elbit Systems by 38,268.4% in the 1st quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company's stock worth $2,797,000 after purchasing an additional 7,271 shares during the last quarter. Institutional investors own 17.88% of the company's stock.

Wall Street Analyst Weigh In

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

Elbit Systems Price Performance

Shares of ESLT stock traded down $3.89 during mid-day trading on Tuesday, hitting $495.09. 38,038 shares of the stock traded hands, compared to its average volume of 107,081. 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 has a market cap of $22.01 billion, a price-to-earnings ratio of 56.17, a price-to-earnings-growth ratio of 1.73 and a beta of 0.37. The company's 50-day simple moving average is $469.59 and its 200-day simple moving average is $427.95. Elbit Systems Ltd. has a twelve month low of $193.73 and a twelve month high of $510.58.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.57 by $0.66. The business had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the previous year, the firm posted $2.08 EPS. As a group, equities research analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend 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 22.70%.

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.