Harel Insurance Investments & Financial Services Ltd. increased its stake in Elbit Systems Ltd. (NASDAQ:ESLT – Free Report) by 206.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,599 shares of the aerospace company’s stock after purchasing an additional 181,524 shares during the period. Elbit Systems accounts for 1.6% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 19th largest position. Harel Insurance Investments & Financial Services Ltd.’s holdings in Elbit Systems were worth $228,914,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESLT. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Elbit Systems by 34.4% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after acquiring an additional 397,049 shares during the period. Lazard Asset Management LLC bought a new position in Elbit Systems in the 3rd quarter worth about $172,673,000. Bank of America Corp DE grew its position in Elbit Systems by 125.0% in the 3rd quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock worth $84,848,000 after purchasing an additional 92,449 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Elbit Systems by 44.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company’s stock valued at $128,573,000 after purchasing an additional 77,741 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Elbit Systems by 7,402.4% during the third quarter. Franklin Resources Inc. now owns 53,492 shares of the aerospace company’s stock valued at $27,269,000 after buying an additional 52,779 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have issued reports on ESLT shares. Jefferies Financial Group reduced their price target on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $725.25.
Elbit Systems Price Performance
Shares of NASDAQ:ESLT opened at $736.30 on Wednesday. The company has a market capitalization of $32.73 billion, a PE ratio of 59.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. The stock has a fifty day moving average of $796.24 and a 200-day moving average of $788.04. Elbit Systems Ltd. has a one year low of $422.84 and a one year high of $1,016.06.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.89. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. As a group, equities analysts anticipate that Elbit Systems Ltd. will post 15.3 EPS for the current fiscal year.
Elbit Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were issued 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
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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