Shares of Elbit Systems Ltd. (NASDAQ:ESLT – Get Free Report) have received an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $725.25.
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Jefferies Financial Group decreased their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th.
Get Our Latest Stock Analysis on Elbit Systems
Elbit Systems Price Performance
Elbit Systems (NASDAQ:ESLT – Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.89. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. Equities research analysts expect that Elbit Systems will post 15.3 EPS for the current fiscal year.
Elbit Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be issued a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a dividend yield of 0.6%. Elbit Systems’s payout ratio is 26.96%.
Insiders Place Their Bets
In other news, CEO Bezhalel Machlis sold 25,514 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $22,641,123.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 69,736 shares of company stock worth $61,883,726. Corporate insiders own 0.84% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of ESLT. Royal Bank of Canada boosted its holdings in shares of Elbit Systems by 98.9% in the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock valued at $946,000 after buying an additional 1,225 shares during the period. AQR Capital Management LLC acquired a new position in shares of Elbit Systems in the 1st quarter valued at about $353,000. NewEdge Advisors LLC boosted its holdings in shares of Elbit Systems by 3,461.1% in the 1st quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock valued at $246,000 after buying an additional 623 shares during the period. Goldman Sachs Group Inc. boosted its stake in Elbit Systems by 33.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after purchasing an additional 34,049 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Elbit Systems by 7.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock valued at $6,339,000 after purchasing an additional 1,191 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.
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.
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