Alliancebernstein L.P. Decreases Stock Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Alliancebernstein L.P. cut its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,587 shares of the aerospace company’s stock after selling 2,353 shares during the quarter. Alliancebernstein L.P. owned 0.13% of Elbit Systems worth $14,861,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Elbit Systems by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock worth $229,268,000 after buying an additional 10,215 shares in the last quarter. Y.D. More Investments Ltd grew its position in Elbit Systems by 10.1% in the fourth quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock worth $117,520,000 after acquiring an additional 41,401 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 worth $59,207,000 after acquiring an additional 145,324 shares during the last quarter. JPMorgan Chase & Co. raised its position in Elbit Systems by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after purchasing an additional 18,614 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock valued at $11,817,000 after purchasing an additional 2,317 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Trading Up 2.0 %

Shares of ESLT opened at $371.97 on Wednesday. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $420.00. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $343.67 and its 200-day simple moving average is $278.92. The company has a market cap of $16.54 billion, a P/E ratio of 63.58 and a beta of 0.32.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.65%. Elbit Systems’s dividend payout ratio (DPR) is 27.72%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

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.