Elbit Systems Ltd. (NASDAQ:ESLT) Holdings Lowered by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,704 shares of the aerospace company’s stock after selling 61 shares during the period. Mackenzie Financial Corp’s holdings in Elbit Systems were worth $653,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC bought a new stake in Elbit Systems in the 1st quarter valued at $29,000. SBI Securities Co. Ltd. increased its position in shares of Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 107 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Elbit Systems during the 4th quarter worth about $73,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Elbit Systems during the 1st quarter worth about $203,000. Finally, Brighton Jones LLC acquired a new stake in Elbit Systems in the 1st quarter valued at about $206,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ESLT. Wall Street Zen raised Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 22nd. Bank of America initiated coverage on Elbit Systems in a research note on Thursday, July 24th. They issued a “buy” rating and a $500.00 price target on the stock.

Elbit Systems Trading Up 0.0%

Shares of ESLT stock opened at $484.23 on Thursday. The company has a 50 day moving average of $441.17 and a 200-day moving average of $387.88. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.09. Elbit Systems Ltd. has a 12-month low of $183.05 and a 12-month high of $494.32. The firm has a market cap of $21.52 billion, a P/E ratio of 61.45, a PEG ratio of 1.89 and a beta of 0.33.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 posted $1.81 EPS. Sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Tuesday, June 24th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, June 24th. Elbit Systems’s dividend payout ratio is 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.