JPMorgan Chase & Co. Sells 109,874 Shares of Elbit Systems Ltd. $ESLT

JPMorgan Chase & Co. reduced its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 56.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,687 shares of the aerospace company’s stock after selling 109,874 shares during the period. JPMorgan Chase & Co. owned 0.19% of Elbit Systems worth $42,664,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. USA Financial Formulas bought a new position in Elbit Systems during the 3rd quarter valued at approximately $26,000. Financial Consulate Inc. bought a new position in shares of Elbit Systems during the 3rd quarter valued at $60,000. Wexford Capital LP purchased a new position in Elbit Systems in the third quarter worth about $63,000. Smartleaf Asset Management LLC boosted its holdings in shares of Elbit Systems by 24.4% in the third quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company’s stock worth $97,000 after buying an additional 38 shares during the last quarter. Finally, Montag A & Associates Inc. grew its holdings in Elbit Systems by 27.8% during the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company’s stock valued at $98,000 after purchasing an additional 42 shares during the period. Institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ESLT. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Morgan Stanley began coverage on Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $550.33.

Elbit Systems Trading Down 3.7%

Shares of ESLT opened at $920.75 on Friday. The firm has a market cap of $40.93 billion, a P/E ratio of 81.05, a price-to-earnings-growth ratio of 2.80 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.76. Elbit Systems Ltd. has a 1 year low of $354.68 and a 1 year high of $1,016.06. The company has a 50 day simple moving average of $767.63 and a two-hundred day simple moving average of $600.46.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, March 17th. The aerospace company reported $3.56 EPS for the quarter, topping the consensus estimate of $3.23 by $0.33. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 13th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, April 13th. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. Elbit Systems’s dividend payout ratio is presently 19.81%.

Elbit Systems Company Profile

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.