Elbit Systems Ltd. $ESLT Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 43.7% in the first quarter, HoldingsChannel reports. The firm owned 26,540 shares of the aerospace company’s stock after selling 20,634 shares during the period. Renaissance Technologies LLC’s holdings in Elbit Systems were worth $22,535,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new stake in shares of Elbit Systems in the 4th quarter valued at approximately $26,000. WPG Advisers LLC purchased a new stake in shares of Elbit Systems during the 1st quarter valued at approximately $26,000. Wexford Capital LP purchased a new stake in shares of Elbit Systems during the 3rd quarter valued at approximately $63,000. Leonteq Securities AG acquired a new position in Elbit Systems in the fourth quarter valued at approximately $68,000. Finally, Hilton Head Capital Partners LLC acquired a new position in Elbit Systems in the fourth quarter valued at approximately $69,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Trading Down 6.0%

ESLT opened at $769.10 on Thursday. Elbit Systems Ltd. has a 52 week low of $432.85 and a 52 week high of $1,016.06. The business has a fifty day simple moving average of $795.23 and a 200-day simple moving average of $801.45. The firm has a market cap of $34.19 billion, a P/E ratio of 62.28, a P/E/G ratio of 3.47 and a beta of 0.17. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last posted its 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 firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. On average, equities analysts expect that Elbit Systems Ltd. will post 15.3 earnings per share for the current year.

Elbit Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Tuesday, June 23rd were issued a $1.00 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems’s payout ratio is 26.96%.

Analyst Ratings Changes

ESLT has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their target price on Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research report on Wednesday, June 24th. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley set a $845.00 target price on shares of Elbit Systems in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Elbit Systems currently has an average rating of “Hold” and a consensus target price of $803.75.

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.