Allianz Asset Management GmbH Boosts Stock Position in Elbit Systems Ltd. $ESLT

Allianz Asset Management GmbH lifted its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,289 shares of the aerospace company’s stock after purchasing an additional 83 shares during the quarter. Allianz Asset Management GmbH’s holdings in Elbit Systems were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in shares of Elbit Systems in the 1st quarter worth about $29,000. SBI Securities Co. Ltd. boosted its holdings in shares of Elbit Systems by 232.6% in 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. SVB Wealth LLC purchased a new position in shares of Elbit Systems in the 1st quarter worth about $77,000. Plato Investment Management Ltd purchased a new position in shares of Elbit Systems in the 1st quarter worth about $87,000. Finally, Grove Bank & Trust raised its position in Elbit Systems by 1,900.0% in the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company’s stock worth $90,000 after purchasing an additional 190 shares during the period. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ESLT shares. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a report on Friday. Bank of America increased their target price on Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. initiated coverage on Elbit Systems in a report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price for the company. Finally, Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $530.00.

Elbit Systems Trading Up 0.7%

Shares of ESLT stock opened at $491.71 on Monday. The business has a 50-day moving average of $491.74 and a 200 day moving average of $447.81. The stock has a market capitalization of $21.86 billion, a PE ratio of 55.81, a P/E/G ratio of 1.79 and a beta of 0.33. 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 Ltd. has a 1-year low of $208.53 and a 1-year high of $529.99.

Elbit Systems (NASDAQ:ESLT) last released 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 business had revenue of $1.97 billion during 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 quarter in the prior year, the company posted $2.08 EPS. As a group, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s dividend payout ratio is currently 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.