US Bancorp DE increased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT – Free Report) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,099 shares of the aerospace company’s stock after purchasing an additional 62 shares during the period. US Bancorp DE’s holdings in Elbit Systems were worth $1,393,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Meitav Investment House Ltd. grew its stake in shares of Elbit Systems by 27.7% during the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after purchasing an additional 82,103 shares during the period. SteelPeak Wealth LLC acquired a new position in Elbit Systems in the second quarter valued at about $829,000. Clarius Group LLC grew its stake in Elbit Systems by 10.0% in the second quarter. Clarius Group LLC now owns 1,099 shares of the aerospace company’s stock valued at $494,000 after acquiring an additional 100 shares during the period. Chicago Capital LLC acquired a new position in Elbit Systems in the second quarter valued at about $3,975,000. Finally, Janney Montgomery Scott LLC grew its stake in Elbit Systems by 8.4% in the second quarter. Janney Montgomery Scott LLC now owns 647 shares of the aerospace company’s stock valued at $291,000 after acquiring an additional 50 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have issued reports on ESLT. Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Elbit Systems in a research note on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Elbit Systems in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 target price for the company. Finally, Wall Street Zen cut Elbit Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $530.00.
Elbit Systems Stock Performance
Shares of Elbit Systems stock opened at $491.65 on Friday. The firm has a market cap of $21.85 billion, a price-to-earnings ratio of 55.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.33. The stock’s 50-day moving average is $487.80 and its 200-day moving average is $442.47. Elbit Systems Ltd. has a one year low of $207.71 and a one year high of $529.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.66. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the previous year, the company posted $2.08 earnings per share. Equities analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.
Elbit Systems Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, October 14th. Elbit Systems’s dividend payout ratio is presently 28.38%.
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.
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