Legal & General Group Plc Has $68.87 Million Stock Position in Elbit Systems Ltd. $ESLT

Legal & General Group Plc raised its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,538 shares of the aerospace company’s stock after purchasing an additional 7,666 shares during the period. Legal & General Group Plc owned approximately 0.27% of Elbit Systems worth $68,865,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new position in Elbit Systems during the fourth quarter valued at approximately $26,000. Leonteq Securities AG acquired a new position in Elbit Systems during the fourth quarter valued at approximately $68,000. Wexford Capital LP acquired a new position in Elbit Systems during the third quarter valued at approximately $63,000. Montag A & Associates Inc. raised its position in Elbit Systems by 27.8% during the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company’s stock valued at $98,000 after purchasing an additional 42 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Elbit Systems by 24.4% during the third quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company’s stock valued at $97,000 after purchasing an additional 38 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Stock Down 1.3%

Shares of NASDAQ:ESLT opened at $880.89 on Friday. The company has a fifty day moving average of $852.20 and a 200-day moving average of $719.73. The company has a market capitalization of $39.16 billion, a PE ratio of 71.33, a price-to-earnings-growth ratio of 3.71 and a beta of 0.14. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.41. Elbit Systems Ltd. has a 52-week low of $394.00 and a 52-week high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.89. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. On average, equities analysts predict that Elbit Systems Ltd. will post 15.6 EPS for the current fiscal year.

Elbit Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Tuesday, June 23rd will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems’s payout ratio is currently 29.31%.

Insider Buying and Selling

In related news, EVP Oren Yaacov Sabag sold 8,504 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $7,546,449.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jonathan Ariel sold 7,654 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,736 shares of company stock valued at $61,883,726 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESLT. JPMorgan Chase & Co. upped their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a report on Wednesday. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $742.75.

Elbit Systems Company 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.