Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 14.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,951 shares of the aerospace company’s stock after selling 342 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Elbit Systems were worth $757,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ESLT. Hurley Capital LLC purchased a new stake in shares of Elbit Systems during the fourth quarter worth approximately $26,000. Prestige Wealth Management Group LLC boosted its holdings in shares of 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of 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 buying an additional 106 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Elbit Systems during the 4th quarter worth $73,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Elbit Systems in the first quarter valued at about $203,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 22nd.

Elbit Systems Stock Down 0.2%

Shares of NASDAQ:ESLT opened at $434.53 on Friday. Elbit Systems Ltd. has a 12-month low of $177.85 and a 12-month high of $476.04. The stock’s 50-day moving average price is $414.36 and its two-hundred day moving average price is $359.43. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 55.14 and a beta of 0.33. 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 released its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.27. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.69 billion. Elbit Systems had a net margin of 4.95% and a return on equity of 13.49%. During the same period in the previous year, the firm earned $1.81 earnings per share. On average, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Tuesday, June 24th. Elbit Systems’s dividend payout ratio is currently 25.38%.

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.