Elbit Systems Ltd. $ESLT Holdings Reduced by Meitav Investment House Ltd.

Meitav Investment House Ltd. lowered its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 363,235 shares of the aerospace company’s stock after selling 14,988 shares during the period. Elbit Systems accounts for about 2.5% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 7th largest position. Meitav Investment House Ltd.’s holdings in Elbit Systems were worth $184,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. grew its stake in Elbit Systems by 11.2% during the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after acquiring an additional 21 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Elbit Systems by 1.1% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock valued at $950,000 after purchasing an additional 21 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Elbit Systems by 20.9% during the second quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 32 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Elbit Systems by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company’s stock worth $6,460,000 after purchasing an additional 48 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Elbit Systems by 8.4% during the second quarter. Janney Montgomery Scott LLC now owns 647 shares of the aerospace company’s stock valued at $291,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Price Performance

Shares of ESLT stock opened at $730.84 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76. The company has a market capitalization of $32.49 billion, a P/E ratio of 74.27, a P/E/G ratio of 2.22 and a beta of 0.22. The company’s 50-day simple moving average is $547.90 and its two-hundred day simple moving average is $500.98. Elbit Systems Ltd. has a one year low of $293.61 and a one year high of $737.51.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. As a group, equities analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, December 22nd. Elbit Systems’s dividend payout ratio is presently 22.87%.

Wall Street Analysts Forecast Growth

ESLT has been the subject of a number of research reports. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Morgan Stanley began coverage on Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, JPMorgan Chase & Co. raised their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Elbit Systems presently has an average rating of “Hold” and a consensus price target of $550.33.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.