Navellier & Associates Inc. Raises Stock Holdings in Elbit Systems Ltd. $ESLT

Navellier & Associates Inc. boosted its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 10.3% in the second quarter, Holdings Channel.com reports. The firm owned 16,247 shares of the aerospace company’s stock after buying an additional 1,514 shares during the quarter. Elbit Systems comprises approximately 1.0% of Navellier & Associates Inc.’s investment portfolio, making the stock its 23rd largest position. Navellier & Associates Inc.’s holdings in Elbit Systems were worth $12,327,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ESLT. Royal Bank of Canada grew its position in shares of Elbit Systems by 98.9% in the 1st quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after buying an additional 1,225 shares during the period. AQR Capital Management LLC purchased a new position in Elbit Systems during the 1st quarter valued at about $353,000. NewEdge Advisors LLC boosted its stake in Elbit Systems by 3,461.1% during the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after acquiring an additional 623 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Elbit Systems by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock worth $51,837,000 after acquiring an additional 34,049 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Elbit Systems by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock worth $6,339,000 after purchasing an additional 1,191 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Down 1.4%

NASDAQ:ESLT opened at $708.68 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39. The firm has a market cap of $31.50 billion, a P/E ratio of 53.40, a P/E/G ratio of 2.99 and a beta of 0.17. Elbit Systems Ltd. has a fifty-two week low of $453.00 and a fifty-two week high of $1,016.06. The firm has a 50-day simple moving average of $775.16 and a two-hundred day simple moving average of $812.29.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.45. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Analysts predict that Elbit Systems Ltd. will post 15.61 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, October 13th. Elbit Systems’s payout ratio is presently 25.09%.

Analyst Ratings Changes

A number of brokerages have weighed in on ESLT. Morgan Stanley set a $845.00 target price on shares of Elbit Systems in a research note on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price target on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 19th. Weiss Ratings downgraded Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday. Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group lowered their price objective on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday, June 24th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $870.00.

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.