Wall Street Zen cut shares of Elbit Systems (NASDAQ:ESLT – Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
Several other research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their target price on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating for the company in a report on Wednesday, August 19th. Jefferies Financial Group decreased their price target on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a report on Wednesday, June 24th. Morgan Stanley set a $845.00 price objective on shares of Elbit Systems in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings lowered shares of Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $870.00.
Check Out Our Latest Analysis on Elbit Systems
Elbit Systems Stock Performance
Elbit Systems (NASDAQ:ESLT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.45. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. Equities analysts anticipate that Elbit Systems will post 15.61 EPS for the current fiscal year.
Elbit Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 13th. Elbit Systems’s dividend payout ratio (DPR) is presently 25.09%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC boosted its position in Elbit Systems by 2.9% during the 2nd quarter. HB Wealth Management LLC now owns 1,135 shares of the aerospace company’s stock worth $861,000 after buying an additional 32 shares during the period. Syon Capital LLC increased its position in Elbit Systems by 12.6% in the 2nd quarter. Syon Capital LLC now owns 600 shares of the aerospace company’s stock valued at $455,000 after acquiring an additional 67 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Elbit Systems by 18.0% during the second quarter. TD Waterhouse Canada Inc. now owns 1,210 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 185 shares during the last quarter. SkyOak Wealth LLC raised its stake in shares of Elbit Systems by 40.0% during the second quarter. SkyOak Wealth LLC now owns 700 shares of the aerospace company’s stock valued at $531,000 after acquiring an additional 200 shares during the last quarter. Finally, Navellier & Associates Inc. lifted its holdings in shares of Elbit Systems by 10.3% during the second quarter. Navellier & Associates Inc. now owns 16,247 shares of the aerospace company’s stock worth $12,327,000 after purchasing an additional 1,514 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.
Elbit Systems Company 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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