Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,329 shares of the aerospace company’s stock after selling 460 shares during the period. Bank of New York Mellon Corp owned about 0.10% of Elbit Systems worth $17,392,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ESLT. Arrowstreet Capital Limited Partnership grew its stake in shares of Elbit Systems by 177.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock valued at $59,207,000 after buying an additional 145,324 shares in the last quarter. Invesco Ltd. boosted its position in shares of 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 acquiring an additional 39,095 shares during the period. FIL Ltd bought a new position in Elbit Systems in the fourth quarter worth $4,616,000. Squarepoint Ops LLC raised its stake in Elbit Systems by 105.8% during the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 14,796 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Elbit Systems by 52.7% during the fourth quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company’s stock worth $11,069,000 after acquiring an additional 14,612 shares in the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Elbit Systems Trading Up 0.7%

NASDAQ:ESLT opened at $432.97 on Friday. Elbit Systems Ltd. has a fifty-two week low of $177.85 and a fifty-two week high of $476.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70. The stock has a market capitalization of $19.25 billion, a PE ratio of 54.95 and a beta of 0.33. The business’s 50-day simple moving average is $422.46 and its 200-day simple moving average is $371.49.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same quarter last year, the firm earned $1.81 EPS. Sell-side analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.55%. Elbit Systems’s dividend payout ratio (DPR) 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.