Goldman Sachs Group Inc. decreased its position in Elbit Systems Ltd. (NASDAQ:ESLT – Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 235,770 shares of the aerospace company’s stock after selling 16,427 shares during the period. Goldman Sachs Group Inc.’s holdings in Elbit Systems were worth $136,207,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. CoreCap Advisors LLC acquired a new stake in Elbit Systems during the 4th quarter worth $26,000. Wexford Capital LP bought a new stake in shares of Elbit Systems in the third quarter worth about $63,000. Leonteq Securities AG bought a new stake in shares of Elbit Systems in the fourth quarter worth about $68,000. Smartleaf Asset Management LLC raised its position in shares of Elbit Systems by 24.4% during the third quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company’s stock worth $97,000 after purchasing an additional 38 shares during the period. Finally, Montag A & Associates Inc. raised its position in shares of Elbit Systems by 27.8% during the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company’s stock worth $98,000 after purchasing an additional 42 shares during the period. Institutional investors own 17.88% of the company’s stock.
Analyst Ratings Changes
ESLT has been the subject of several research analyst reports. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Jefferies Financial Group restated a “hold” rating and set a $950.00 target price on shares of Elbit Systems in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $742.75.
Insider Buying and Selling at Elbit Systems
In related news, EVP Haim Daniel Delmar sold 7,654 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Ariel sold 7,654 shares of the 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 $6,792,159.60. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 69,736 shares of company stock valued at $61,883,726 in the last ninety days. Insiders own 0.84% of the company’s stock.
Elbit Systems Stock Up 0.8%
Elbit Systems stock opened at $830.16 on Tuesday. The company has a market cap of $36.90 billion, a P/E ratio of 67.22, a price-to-earnings-growth ratio of 3.35 and a beta of 0.14. Elbit Systems Ltd. has a 1-year low of $407.76 and a 1-year high of $1,016.06. The company has a fifty day simple moving average of $843.24 and a 200 day simple moving average of $736.22. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last issued its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Research analysts anticipate that Elbit Systems Ltd. will post 15.94 earnings per share for the current fiscal year.
Elbit Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 23rd will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems’s payout ratio is currently 26.96%.
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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