Flatrock Wealth Partners LLC Takes Position in Elbit Systems Ltd. $ESLT

Flatrock Wealth Partners LLC bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLTFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,264 shares of the aerospace company’s stock, valued at approximately $1,073,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd lifted its position in Elbit Systems by 34.4% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock valued at $893,941,000 after purchasing an additional 397,049 shares during the period. Vanguard Group Inc. raised its stake in shares of Elbit Systems by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock worth $573,131,000 after buying an additional 13,406 shares during the last quarter. Van ECK Associates Corp raised its stake 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 worth $330,404,000 after buying an additional 628,236 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Elbit Systems by 3.0% in the fourth quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company’s stock valued at $356,345,000 after acquiring an additional 18,289 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock worth $246,121,000 after acquiring an additional 12,003 shares during the period. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Jefferies Financial Group lowered their target price on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday, June 24th. Finally, Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Elbit Systems currently has an average rating of “Hold” and an average target price of $725.25.

View Our Latest Analysis on ESLT

Insider Buying and Selling at Elbit Systems

In other Elbit Systems news, CEO Bezhalel Machlis sold 25,514 shares of the company’s 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 $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 Oren Yaacov Sabag sold 8,504 shares of the firm’s 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 $7,546,449.60. The disclosure for this sale is available in the SEC filing. Insiders sold 69,736 shares of company stock valued at $61,883,726 in the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Elbit Systems Stock Down 4.1%

Shares of ESLT stock opened at $777.93 on Wednesday. Elbit Systems Ltd. has a 12-month low of $422.84 and a 12-month high of $1,016.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $804.23 and a 200-day moving average of $781.47. The company has a market capitalization of $34.58 billion, a price-to-earnings ratio of 62.99, a P/E/G ratio of 3.44 and a beta of 0.17.

Elbit Systems (NASDAQ:ESLTGet Free Report) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The firm 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%. As a group, equities research analysts predict that Elbit Systems Ltd. will post 15.3 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 23rd. Elbit Systems’s dividend payout ratio is currently 26.96%.

Elbit Systems Profile

(Free Report)

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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Institutional Ownership by Quarter for Elbit Systems (NASDAQ:ESLT)

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