Envestnet Asset Management Inc. Cuts Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Envestnet Asset Management Inc. lowered its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,765 shares of the aerospace company’s stock after selling 140 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Elbit Systems were worth $974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hurley Capital LLC acquired a new position in shares of Elbit Systems in the 4th quarter valued at $26,000. Prestige Wealth Management Group LLC lifted its holdings in Elbit Systems by 150.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 75 shares during the period. Morse Asset Management Inc acquired a new position in Elbit Systems during the third quarter worth about $40,000. Sierra Ocean LLC acquired a new position in Elbit Systems during the fourth quarter worth $41,000. Finally, Smartleaf Asset Management LLC grew its stake in Elbit Systems by 196.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Trading Up 1.7 %

NASDAQ ESLT opened at $404.19 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The company has a market cap of $17.97 billion, a P/E ratio of 69.09 and a beta of 0.32. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $420.00. The company has a 50-day moving average of $376.77 and a 200-day moving average of $301.67.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. As a group, equities analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is currently 27.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Elbit Systems Company Profile

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.