Cary Street Partners Financial LLC Makes New Investment in Elbit Systems Ltd. $ESLT

Cary Street Partners Financial LLC bought a new position in Elbit Systems Ltd. (NASDAQ:ESLT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 769 shares of the aerospace company’s stock, valued at approximately $444,000.

Several other hedge funds also recently bought and sold shares of ESLT. Van ECK Associates Corp increased its position in Elbit Systems by 3,162.0% in the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after purchasing an additional 628,236 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Elbit Systems in the 3rd quarter worth about $172,673,000. Bank of America Corp DE grew its position in Elbit Systems by 125.0% in the third quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock worth $84,848,000 after acquiring an additional 92,449 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Elbit Systems by 44.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company’s stock worth $128,573,000 after acquiring an additional 77,741 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Elbit Systems by 709.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company’s stock worth $50,948,000 after acquiring an additional 77,192 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Trading Down 1.3%

NASDAQ:ESLT opened at $880.89 on Friday. The firm has a market cap of $39.16 billion, a price-to-earnings ratio of 71.33, a P/E/G ratio of 3.66 and a beta of 0.14. The company’s 50 day moving average is $852.20 and its 200-day moving average is $719.73. Elbit Systems Ltd. has a 12 month low of $394.00 and a 12 month high of $1,016.06. The company has a quick ratio of 0.77, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.89. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%. Equities analysts anticipate that Elbit Systems Ltd. will post 15.94 EPS for the current year.

Elbit Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio is currently 26.96%.

Insider Buying and Selling

In other news, EVP Oren Yaacov Sabag sold 8,504 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $7,546,449.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan Ariel sold 7,654 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Insiders sold 69,736 shares of company stock valued at $61,883,726 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ESLT. Jefferies Financial Group reissued a “hold” rating and issued a $950.00 target price on shares of Elbit Systems in a research report on Wednesday. Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted their price target on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Elbit Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $742.75.

About Elbit Systems

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.