Cardinal Capital Management Has $4.49 Million Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Cardinal Capital Management lessened its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 17.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,707 shares of the aerospace company’s stock after selling 2,429 shares during the quarter. Cardinal Capital Management’s holdings in Elbit Systems were worth $4,492,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Elbit Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock valued at $229,268,000 after purchasing an additional 10,215 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Elbit Systems by 44.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company’s stock valued at $810,000 after purchasing an additional 961 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Elbit Systems in the fourth quarter valued at approximately $1,999,000. Bank of New York Mellon Corp grew its position in shares of Elbit Systems by 5.3% in the fourth quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock valued at $11,817,000 after purchasing an additional 2,317 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Elbit Systems by 38,268.4% in the first quarter. GAMMA Investing LLC now owns 7,290 shares of the aerospace company’s stock valued at $2,797,000 after purchasing an additional 7,271 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Trading Down 1.7%

Shares of ESLT stock opened at $447.20 on Tuesday. The stock’s fifty day moving average price is $402.18 and its two-hundred day moving average price is $342.06. The company has a market cap of $19.88 billion, a PE ratio of 76.44 and a beta of 0.31. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $476.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.27. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $1.81 EPS. Equities analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, June 24th. Elbit Systems’s dividend payout ratio is currently 25.25%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

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.