Elbit Systems Ltd. (NASDAQ:ESLT) Position Increased by Northern Trust Corp

Northern Trust Corp raised its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 301.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,798 shares of the aerospace company’s stock after buying an additional 5,854 shares during the period. Northern Trust Corp’s holdings in Elbit Systems were worth $2,012,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Elbit Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock worth $229,268,000 after buying an additional 10,215 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Elbit Systems by 44.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company’s stock worth $810,000 after buying an additional 961 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Elbit Systems during the fourth quarter worth approximately $1,999,000. Bank of New York Mellon Corp boosted its stake in Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock worth $11,817,000 after purchasing an additional 2,317 shares during the period. Finally, Invesco Ltd. boosted its stake in Elbit Systems by 13.1% in the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock worth $87,294,000 after purchasing an additional 39,095 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Elbit Systems Trading Up 0.6%

Elbit Systems stock opened at $378.93 on Monday. The company has a 50 day moving average price of $393.45 and a 200 day moving average price of $322.61. Elbit Systems Ltd. has a 52 week low of $175.30 and a 52 week high of $426.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 64.77 and a beta of 0.31.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.27. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the business posted $1.81 EPS. Research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, June 24th. Elbit Systems’s dividend payout ratio (DPR) is currently 25.25%.

Elbit Systems 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.