Cullen Capital Management LLC lessened its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,310 shares of the aerospace company’s stock after selling 10,840 shares during the quarter. Cullen Capital Management LLC owned approximately 0.16% of Elbit Systems worth $8,549,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in Elbit Systems by 31.9% in the 2nd quarter. FMR LLC now owns 1,671,496 shares of the aerospace company’s stock worth $206,581,000 after acquiring an additional 404,369 shares in the last quarter. Vanguard Group Inc. increased its holdings in Elbit Systems by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 526,881 shares of the aerospace company’s stock worth $65,202,000 after acquiring an additional 32,258 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Elbit Systems by 5.6% in the 1st quarter. Renaissance Technologies LLC now owns 199,235 shares of the aerospace company’s stock worth $22,643,000 after acquiring an additional 10,500 shares in the last quarter. Bank of America Corp DE increased its holdings in Elbit Systems by 1.6% in the 1st quarter. Bank of America Corp DE now owns 133,446 shares of the aerospace company’s stock worth $15,166,000 after acquiring an additional 2,048 shares in the last quarter. Finally, Rainier Investment Management LLC increased its holdings in Elbit Systems by 467.8% in the 2nd quarter. Rainier Investment Management LLC now owns 70,410 shares of the aerospace company’s stock worth $8,713,000 after acquiring an additional 58,010 shares in the last quarter. 11.13% of the stock is owned by institutional investors.
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Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, August 15th. The aerospace company reported $1.61 EPS for the quarter. The firm had revenue of $818.30 million during the quarter. Elbit Systems had a return on equity of 16.38% and a net margin of 7.23%.
The business also recently disclosed a dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 1st were given a dividend of $0.44 per share. The ex-dividend date was Wednesday, August 30th. This is a boost from Elbit Systems’s previous dividend of $0.37. Elbit Systems’s dividend payout ratio (DPR) is currently 31.54%.
ESLT has been the subject of several recent analyst reports. BidaskClub lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. ValuEngine raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Standpoint Research lowered shares of Elbit Systems from an “accumulate” rating to a “hold” rating in a report on Thursday, October 5th.
Elbit Systems Company Profile
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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