Elbit Systems Ltd. $ESLT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,826 shares of the aerospace company’s stock after selling 931 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.05% of Elbit Systems worth $11,637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its holdings in Elbit Systems by 11.2% in the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after buying an additional 21 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Elbit Systems by 1.1% in the 3rd quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock worth $950,000 after acquiring an additional 21 shares during the period. SBI Securities Co. Ltd. increased its stake in Elbit Systems by 20.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 32 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Elbit Systems by 0.3% during the second quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company’s stock worth $6,460,000 after purchasing an additional 48 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Elbit Systems by 8.4% during the second quarter. Janney Montgomery Scott LLC now owns 647 shares of the aerospace company’s stock worth $291,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Finally, Morgan Stanley began coverage on shares of Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target on the stock. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $550.33.

Elbit Systems Trading Up 1.4%

Elbit Systems stock opened at $730.84 on Friday. The stock has a 50-day moving average price of $547.90 and a 200 day moving average price of $500.98. Elbit Systems Ltd. has a 52 week low of $293.61 and a 52 week high of $737.51. The stock has a market cap of $32.49 billion, a PE ratio of 74.27, a P/E/G ratio of 2.22 and a beta of 0.22. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

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

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 22nd. Elbit Systems’s dividend payout ratio is currently 22.87%.

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.