Navellier & Associates Inc. Boosts Stock Position in Elbit Systems Ltd. $ESLT

Navellier & Associates Inc. increased its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 11.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,227 shares of the aerospace company’s stock after buying an additional 1,572 shares during the period. Navellier & Associates Inc.’s holdings in Elbit Systems were worth $7,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new position in Elbit Systems during the 3rd quarter worth $730,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Elbit Systems during the third quarter valued at about $824,000. JPMorgan Chase & Co. boosted its holdings in Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after buying an additional 134,300 shares in the last quarter. Creative Planning grew its holdings in shares of Elbit Systems by 10.1% in the 2nd quarter. Creative Planning now owns 6,855 shares of the aerospace company’s stock worth $3,082,000 after acquiring an additional 629 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Elbit Systems by 2.5% in the second quarter. Invesco Ltd. now owns 337,292 shares of the aerospace company’s stock worth $151,613,000 after acquiring an additional 8,310 shares in the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Price Performance

Shares of ESLT stock opened at $670.81 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $620.93 and a 200-day moving average of $531.01. Elbit Systems Ltd. has a 12-month low of $294.99 and a 12-month high of $740.67. The firm has a market capitalization of $29.56 billion, a price-to-earnings ratio of 68.17, a price-to-earnings-growth ratio of 2.02 and a beta of 0.22.

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

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 0.4%. Elbit Systems’s dividend payout ratio is 22.87%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Morgan Stanley began coverage on Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price on the stock. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $550.33.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.