PNC Financial Services Group Inc. Decreases Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

PNC Financial Services Group Inc. trimmed its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 2.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,941 shares of the aerospace company’s stock after selling 132 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elbit Systems were worth $1,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ESLT. Blue Trust Inc. boosted its holdings in Elbit Systems by 368.6% during the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 129 shares during the period. Coastline Trust Co purchased a new stake in shares of Elbit Systems during the third quarter valued at $34,000. Point72 DIFC Ltd bought a new position in shares of Elbit Systems in the second quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elbit Systems in the 2nd quarter worth about $143,000. Finally, AM Investment Strategies LLC bought a new stake in Elbit Systems during the 3rd quarter valued at about $200,000. Institutional investors own 17.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Trading Down 3.3 %

Shares of NASDAQ:ESLT opened at $244.55 on Thursday. Elbit Systems Ltd. has a 1 year low of $175.30 and a 1 year high of $255.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The firm has a market capitalization of $10.87 billion, a P/E ratio of 41.81 and a beta of 0.51. The business’s 50-day moving average is $218.45 and its 200 day moving average is $200.37.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. Elbit Systems’s payout ratio is currently 28.38%.

Elbit Systems Company 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.