Arrowstreet Capital Limited Partnership Grows Position in Elbit Systems Ltd. $ESLT

Arrowstreet Capital Limited Partnership grew its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 27.3% in the second quarter, HoldingsChannel reports. The firm owned 471,839 shares of the aerospace company’s stock after buying an additional 101,083 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Elbit Systems were worth $210,967,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management bought a new stake in shares of Elbit Systems in the 2nd quarter valued at approximately $28,000. Traub Capital Management LLC purchased a new position in Elbit Systems during the 2nd quarter worth $31,000. Montag A & Associates Inc. bought a new position in Elbit Systems during the 2nd quarter worth about $68,000. SVB Wealth LLC bought a new position in shares of Elbit Systems during the first quarter valued at approximately $77,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Elbit Systems by 20.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock worth $83,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

Analyst Ratings Changes

ESLT has been the topic of several analyst reports. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. JPMorgan Chase & Co. started coverage on Elbit Systems in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a report on Monday. Bank of America boosted their price target on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Finally, Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $530.00.

Elbit Systems Price Performance

Shares of ESLT opened at $465.66 on Wednesday. Elbit Systems Ltd. has a fifty-two week low of $243.51 and a fifty-two week high of $529.99. The company has a market cap of $20.70 billion, a P/E ratio of 47.32, a PEG ratio of 1.60 and a beta of 0.24. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $487.36 and its 200 day moving average price is $463.34.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, December 22nd. Elbit Systems’s dividend payout ratio is 25.41%.

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.