Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,253 shares of the aerospace company’s stock after selling 5,277 shares during the period. ARK Investment Management LLC’s holdings in Elbit Systems were worth $23,085,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Elbit Systems by 10.9% during the first quarter. Bank of New York Mellon Corp now owns 54,176 shares of the aerospace company’s stock worth $11,943,000 after purchasing an additional 5,319 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Elbit Systems by 3.2% during the first quarter. HighTower Advisors LLC now owns 2,708 shares of the aerospace company’s stock worth $598,000 after purchasing an additional 83 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Elbit Systems by 55.4% during the first quarter. Citigroup Inc. now owns 16,738 shares of the aerospace company’s stock worth $3,671,000 after purchasing an additional 5,970 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Elbit Systems by 3.6% during the first quarter. Bank of Montreal Can now owns 7,262 shares of the aerospace company’s stock worth $502,000 after purchasing an additional 250 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Elbit Systems by 10.0% during the first quarter. BlackRock Inc. now owns 60,140 shares of the aerospace company’s stock worth $13,258,000 after purchasing an additional 5,468 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Stock Performance

NASDAQ ESLT opened at $211.15 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 0.13. Elbit Systems Ltd. has a 52-week low of $166.35 and a 52-week high of $225.64. The business’s 50-day moving average price is $208.18 and its 200 day moving average price is $204.62. The firm has a market cap of $9.39 billion, a P/E ratio of 43.72 and a beta of 0.55.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, March 26th. The aerospace company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Elbit Systems had a return on equity of 10.30% and a net margin of 3.60%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $1.68 earnings per share. On average, equities research analysts expect that Elbit Systems Ltd. will post 6.6 earnings per share for the current year.

Elbit Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Wednesday, April 24th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, April 23rd. Elbit Systems’s dividend payout ratio is currently 34.37%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

Elbit Systems 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.