Nikko Asset Management Americas Inc. Trims Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Nikko Asset Management Americas Inc. reduced its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 17.4% in the 1st quarter, Holdings Channel reports. The fund owned 24,888 shares of the aerospace company’s stock after selling 5,239 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Elbit Systems were worth $9,537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ESLT. Arrowstreet Capital Limited Partnership raised its position in Elbit Systems by 177.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company’s stock valued at $59,207,000 after acquiring an additional 145,324 shares in the last quarter. Invesco Ltd. raised its position in Elbit Systems by 13.1% during the fourth quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock valued at $87,294,000 after acquiring an additional 39,095 shares in the last quarter. FIL Ltd purchased a new position in Elbit Systems during the fourth quarter valued at approximately $4,616,000. Squarepoint Ops LLC raised its position in Elbit Systems by 105.8% during the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 14,796 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Elbit Systems by 52.7% during the fourth quarter. Voya Investment Management LLC now owns 42,319 shares of the aerospace company’s stock valued at $11,069,000 after acquiring an additional 14,612 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ESLT. Bank of America began coverage on Elbit Systems in a research report on Thursday. They set a “buy” rating and a $500.00 price target for the company. Wall Street Zen upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 22nd.

Elbit Systems Stock Up 0.6%

Elbit Systems stock opened at $452.82 on Friday. The stock has a market capitalization of $20.13 billion, a PE ratio of 57.46 and a beta of 0.33. Elbit Systems Ltd. has a 12 month low of $177.85 and a 12 month high of $476.04. The business has a 50 day simple moving average of $428.48 and a 200-day simple moving average of $377.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.70.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 20th. The aerospace company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.27. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Elbit Systems had a return on equity of 13.49% and a net margin of 4.95%. During the same period in the previous year, the business earned $1.81 earnings per share. On average, analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Tuesday, June 24th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Tuesday, June 24th. Elbit Systems’s dividend payout ratio (DPR) is presently 25.25%.

Elbit Systems Company 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.