M&T Bank Corp Buys Shares of 756 Elbit Systems Ltd. $ESLT

M&T Bank Corp purchased a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 756 shares of the aerospace company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SteelPeak Wealth LLC increased its position in Elbit Systems by 1.1% during the third quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock worth $950,000 after purchasing an additional 21 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Elbit Systems by 2.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock valued at $608,000 after purchasing an additional 29 shares during the last quarter. Greenleaf Trust boosted its holdings in Elbit Systems by 7.1% in the 4th quarter. Greenleaf Trust now owns 466 shares of the aerospace company’s stock valued at $269,000 after purchasing an additional 31 shares during the last quarter. West Family Investments Inc. grew its stake in shares of Elbit Systems by 2.9% in the 3rd quarter. West Family Investments Inc. now owns 1,136 shares of the aerospace company’s stock valued at $579,000 after buying an additional 32 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Elbit Systems by 18.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 219 shares of the aerospace company’s stock valued at $112,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Price Performance

ESLT stock opened at $831.22 on Friday. The business’s fifty day moving average price is $870.30 and its 200 day moving average price is $677.38. Elbit Systems Ltd. has a 12-month low of $369.60 and a 12-month high of $1,016.06. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $36.95 billion, a PE ratio of 73.17, a P/E/G ratio of 3.49 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, March 17th. The aerospace company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.33. The company had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Elbit Systems had a return on equity of 15.53% and a net margin of 6.73%. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 15.47 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 13th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Elbit Systems’s previous quarterly dividend of $0.75. The ex-dividend date was Monday, April 13th. Elbit Systems’s dividend payout ratio (DPR) is presently 29.31%.

Analysts Set New Price Targets

ESLT has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Elbit Systems from $580.00 to $930.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $667.00.

Insider Activity

In other Elbit Systems 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Haim Daniel Delmar sold 7,654 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last 90 days. Company insiders own 0.84% of the company’s stock.

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.