Intech Investment Management LLC trimmed its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT – Free Report) by 38.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,391 shares of the aerospace company’s stock after selling 2,106 shares during the period. Intech Investment Management LLC’s holdings in Elbit Systems were worth $1,953,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. lifted its holdings in shares of Elbit Systems by 296.0% during the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock valued at $3,553,000 after purchasing an additional 5,210 shares during the last quarter. ARK Investment Management LLC lifted its holdings in shares of Elbit Systems by 11.6% during the third quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock valued at $27,309,000 after purchasing an additional 5,550 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares during the last quarter. Cadent Capital Advisors LLC purchased a new position in shares of Elbit Systems during the fourth quarter valued at approximately $1,493,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of Elbit Systems by 180,000.0% during the third quarter. Atlantic Union Bankshares Corp now owns 1,801 shares of the aerospace company’s stock valued at $918,000 after purchasing an additional 1,800 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.
Elbit Systems Price Performance
Shares of NASDAQ ESLT opened at $829.81 on Thursday. Elbit Systems Ltd. has a twelve month low of $407.76 and a twelve month high of $1,016.06. The firm has a market cap of $36.89 billion, a P/E ratio of 67.19, a PEG ratio of 3.46 and a beta of 0.14. The company has a 50 day moving average of $847.35 and a 200 day moving average of $729.10. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.
Elbit Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 23rd will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s payout ratio is presently 26.96%.
Insider Buying and Selling
In other Elbit Systems news, CEO Bezhalel Machlis sold 25,514 shares of Elbit Systems stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Haim Daniel Delmar sold 7,654 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The stock was 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. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last 90 days. 0.84% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $950.00 target price on shares of Elbit Systems in a report on Wednesday, May 27th. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $742.75.
Check Out Our Latest Stock Analysis on Elbit Systems
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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