Raymond James & Associates Sells 411 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Raymond James & Associates lowered its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 3.5% in the 4th quarter, HoldingsChannel reports. The firm owned 11,239 shares of the aerospace company’s stock after selling 411 shares during the quarter. Raymond James & Associates’ holdings in Elbit Systems were worth $2,397,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal Advantage Investments Inc. lifted its stake in shares of Elbit Systems by 22.0% in the 4th quarter. Legal Advantage Investments Inc. now owns 15,722 shares of the aerospace company’s stock valued at $3,353,000 after acquiring an additional 2,830 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Elbit Systems by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 809,337 shares of the aerospace company’s stock valued at $160,233,000 after acquiring an additional 8,966 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Elbit Systems by 1.6% in the 3rd quarter. Deutsche Bank AG now owns 17,126 shares of the aerospace company’s stock valued at $3,391,000 after acquiring an additional 263 shares during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Elbit Systems by 0.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 9,488 shares of the aerospace company’s stock valued at $1,889,000 after acquiring an additional 67 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Elbit Systems by 3.3% in the 3rd quarter. Creative Planning now owns 2,594 shares of the aerospace company’s stock valued at $514,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Trading Up 3.2 %

NASDAQ ESLT opened at $202.13 on Tuesday. Elbit Systems Ltd. has a 1-year low of $173.01 and a 1-year high of $225.64. The company has a current ratio of 1.14, a quick ratio of 0.67 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $207.44 and a 200-day moving average of $204.95. The firm has a market cap of $8.98 billion, a PE ratio of 41.85 and a beta of 0.55.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, March 26th. The aerospace company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. Elbit Systems had a return on equity of 10.16% and a net margin of 3.60%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, sell-side analysts forecast that Elbit Systems Ltd. will post 6.33 EPS for the current year.

Elbit Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Wednesday, April 24th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.99%. Elbit Systems’s dividend payout ratio is presently 34.37%.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.