Total Clarity Wealth Management Inc. Sells 727 Shares of Elbit Systems Ltd. $ESLT

Total Clarity Wealth Management Inc. decreased its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 49.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 746 shares of the aerospace company’s stock after selling 727 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Elbit Systems were worth $633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after purchasing an additional 628,236 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Elbit Systems by 34.4% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after buying an additional 397,049 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Elbit Systems during the 3rd quarter worth about $172,673,000. Bank of America Corp DE boosted its holdings in shares of Elbit Systems by 125.0% during the 3rd quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock worth $84,848,000 after buying an additional 92,449 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Elbit Systems by 44.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company’s stock valued at $128,573,000 after buying an additional 77,741 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $950.00 price target on shares of Elbit Systems in a report on Wednesday, May 27th. Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their target price on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $742.75.

Elbit Systems Trading Down 0.3%

Shares of Elbit Systems stock opened at $772.45 on Wednesday. The firm has a 50-day moving average of $826.91 and a 200-day moving average of $763.21. The stock has a market cap of $34.34 billion, a PE ratio of 62.55, a PEG ratio of 3.30 and a beta of 0.14. Elbit Systems Ltd. has a 52-week low of $415.90 and a 52-week high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, beating the consensus estimate of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. As a group, sell-side analysts forecast that Elbit Systems Ltd. will post 15.23 EPS for the current year.

Elbit Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio is presently 26.88%.

Insider Activity

In related news, EVP Haim Daniel Delmar sold 7,654 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 69,736 shares of company stock worth $61,883,726. Insiders own 0.84% of the company’s stock.

Elbit Systems 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.