Elbit Systems Ltd. $ESLT Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 48.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,883 shares of the aerospace company’s stock after selling 10,400 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Elbit Systems were worth $4,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd grew its position in Elbit Systems by 0.3% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company’s stock worth $520,189,000 after purchasing an additional 4,248 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Elbit Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company’s stock worth $341,276,000 after buying an additional 15,552 shares during the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Elbit Systems by 0.6% during the first quarter. Y.D. More Investments Ltd now owns 452,288 shares of the aerospace company’s stock worth $173,349,000 after buying an additional 2,541 shares during the period. Meitav Investment House Ltd. grew its holdings in shares of Elbit Systems by 27.7% during the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after buying an additional 82,103 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Elbit Systems by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after buying an additional 34,049 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Stock Up 0.9%

Shares of ESLT stock opened at $476.75 on Friday. Elbit Systems Ltd. has a twelve month low of $226.90 and a twelve month high of $529.99. The stock has a market cap of $21.19 billion, a P/E ratio of 54.11, a P/E/G ratio of 1.74 and a beta of 0.33. The stock has a 50 day moving average of $493.67 and a 200 day moving average of $450.50. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.66. The business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. During the same quarter last year, the company earned $2.08 EPS. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Tuesday, October 14th were given a dividend of $0.75 per share. This is a boost from Elbit Systems’s previous quarterly dividend of $0.60. This represents a $3.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, October 14th. Elbit Systems’s dividend payout ratio (DPR) is 28.26%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. started coverage on Elbit Systems in a research report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price target for the company. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Bank of America increased their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $530.00.

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.