Elbit Systems Ltd. $ESLT Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP decreased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 99.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58 shares of the aerospace company’s stock after selling 30,055 shares during the period. Systematic Financial Management LP’s holdings in Elbit Systems were worth $49,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ESLT. Sei Investments Co. bought a new position in shares of Elbit Systems in the first quarter valued at approximately $731,000. Cetera Investment Advisers raised its holdings in Elbit Systems by 3.2% during the first quarter. Cetera Investment Advisers now owns 9,698 shares of the aerospace company’s stock worth $8,107,000 after purchasing an additional 304 shares in the last quarter. First Trust Advisors LP lifted its position in Elbit Systems by 10.7% in the first quarter. First Trust Advisors LP now owns 4,502 shares of the aerospace company’s stock worth $3,778,000 after purchasing an additional 435 shares during the period. Clal Insurance Enterprises Holdings Ltd boosted its stake in Elbit Systems by 4.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock valued at $1,351,958,000 after purchasing an additional 69,165 shares in the last quarter. Finally, Amova Asset Management Americas Inc. increased its position in shares of Elbit Systems by 1.5% during the 1st quarter. Amova Asset Management Americas Inc. now owns 18,689 shares of the aerospace company’s stock valued at $15,871,000 after purchasing an additional 271 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Elbit Systems Price Performance

ESLT opened at $820.21 on Friday. The stock has a market cap of $36.46 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 3.48 and a beta of 0.17. Elbit Systems Ltd. has a 1 year low of $432.85 and a 1 year high of $1,016.06. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $793.22 and a 200 day moving average price of $797.24.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Analysts forecast that Elbit Systems Ltd. will post 15.3 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

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

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.