Assenagon Asset Management S.A. Buys Shares of 906 Elbit Systems Ltd. (NASDAQ:ESLT)

Assenagon Asset Management S.A. purchased a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 906 shares of the aerospace company’s stock, valued at approximately $346,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its stake in shares of Elbit Systems by 177.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock worth $59,207,000 after buying an additional 145,324 shares during the period. Invesco Ltd. increased its stake in Elbit Systems by 13.1% in the fourth quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock valued at $87,294,000 after purchasing an additional 39,095 shares during the last quarter. FIL Ltd purchased a new position in Elbit Systems in the fourth quarter valued at approximately $4,616,000. Squarepoint Ops LLC increased its stake in Elbit Systems by 105.8% in the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock valued at $209,000 after purchasing an additional 14,796 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Elbit Systems by 52.7% in the fourth quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company’s stock valued at $11,069,000 after purchasing an additional 14,612 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Price Performance

ESLT stock opened at $438.27 on Friday. The company has a market capitalization of $19.48 billion, a P/E ratio of 55.62 and a beta of 0.31. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $476.04. The business has a 50 day simple moving average of $405.28 and a 200-day simple moving average of $344.83. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.27. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same period in the prior year, the company earned $1.81 earnings per share. As a group, equities analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Tuesday, June 24th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, June 24th. Elbit Systems’s dividend payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 14th.

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.