Arrowstreet Capital Limited Partnership Purchases 101,083 Shares of Elbit Systems Ltd. $ESLT

Arrowstreet Capital Limited Partnership grew its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 27.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 471,839 shares of the aerospace company’s stock after purchasing an additional 101,083 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.06% of Elbit Systems worth $210,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Activest Wealth Management bought a new position in Elbit Systems in the second quarter valued at about $28,000. Traub Capital Management LLC acquired a new position in shares of Elbit Systems during the second quarter valued at about $31,000. Montag A & Associates Inc. bought a new stake in shares of Elbit Systems during the second quarter valued at approximately $68,000. SVB Wealth LLC acquired a new position in Elbit Systems during the first quarter worth $77,000. Finally, SBI Securities Co. Ltd. boosted its stake in Elbit Systems by 20.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Price Performance

NASDAQ ESLT opened at $465.66 on Wednesday. The business’s fifty day moving average price is $487.36 and its 200-day moving average price is $463.34. Elbit Systems Ltd. has a 1-year low of $243.51 and a 1-year high of $529.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76. The stock has a market capitalization of $20.70 billion, a price-to-earnings ratio of 47.32, a PEG ratio of 1.60 and a beta of 0.24.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.60. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. On average, equities analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.00 annualized dividend and a yield of 0.6%. Elbit Systems’s payout ratio is currently 25.41%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESLT. Bank of America raised their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a research note on Monday. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. began coverage on shares of Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Elbit Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $530.00.

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.