Wells Fargo & Company MN Has $521,000 Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Wells Fargo & Company MN lowered its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,021 shares of the aerospace company’s stock after selling 197 shares during the quarter. Wells Fargo & Company MN’s holdings in Elbit Systems were worth $521,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC raised its position in Elbit Systems by 150.0% during 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Elbit Systems during the 4th quarter valued at $41,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elbit Systems in the 3rd quarter valued at $63,000. Finally, Callan Family Office LLC bought a new stake in Elbit Systems in the fourth quarter worth $231,000. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Up 0.6 %

Elbit Systems stock opened at $406.69 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. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $420.00. The firm has a fifty day moving average price of $378.92 and a two-hundred day moving average price of $303.68. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 69.52 and a beta of 0.32.

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

Elbit Systems Increases Dividend

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

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.