Wall Street Zen upgraded shares of Elbit Systems (NASDAQ:ESLT – Free Report) from a hold rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.
A number of other equities research analysts have also recently weighed in on ESLT. Jefferies Financial Group reduced their price objective on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a research note on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price objective on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 19th. Finally, Weiss Ratings lowered Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $870.00.
Check Out Our Latest Research Report on Elbit Systems
Elbit Systems Stock Down 4.2%
Elbit Systems (NASDAQ:ESLT – Get Free Report) last announced its earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.69 by $0.45. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. Equities research analysts expect that Elbit Systems will post 15.61 earnings per share for the current year.
Elbit Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be given a dividend of $1.00 per share. The ex-dividend date is Tuesday, October 13th. This represents a $4.00 dividend on an annualized basis and a yield of 0.6%. Elbit Systems’s dividend payout ratio is presently 25.09%.
Institutional Trading of Elbit Systems
Several hedge funds have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd raised its position in Elbit Systems by 4.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock worth $1,351,958,000 after acquiring an additional 69,165 shares in the last quarter. Meitav Investment House Ltd. lifted its holdings in Elbit Systems by 8.9% in the first quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company’s stock valued at $332,985,000 after acquiring an additional 32,617 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Elbit Systems by 206.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock worth $228,914,000 after purchasing an additional 181,524 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Elbit Systems during the 1st quarter worth $128,135,000. Finally, Swiss National Bank increased its holdings in shares of Elbit Systems by 27.7% in the 1st quarter. Swiss National Bank now owns 102,740 shares of the aerospace company’s stock valued at $85,619,000 after purchasing an additional 22,315 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.
Elbit Systems Company Profile
Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies integrated solutions for military, homeland security, and commercial aviation customers. Its offerings support airborne, land, naval, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) applications.
The company’s products and services include unmanned aircraft systems, electro-optical and night-vision systems, electronic warfare and signals intelligence solutions, communications equipment, tactical radios, artillery and precision munitions, armored vehicle systems, and military training and simulation technologies.
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