Elbit Systems Ltd. $ESLT Stake Lowered by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,418 shares of the aerospace company’s stock after selling 2,110 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Elbit Systems were worth $10,633,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ESLT. CoreCap Advisors LLC bought a new position in Elbit Systems in the 4th quarter worth approximately $26,000. Leonteq Securities AG bought a new position in Elbit Systems in the 4th quarter worth approximately $68,000. Hilton Head Capital Partners LLC bought a new position in Elbit Systems in the 4th quarter worth approximately $69,000. Wexford Capital LP bought a new position in Elbit Systems in the 3rd quarter worth approximately $63,000. Finally, Montag A & Associates Inc. grew its holdings in Elbit Systems by 27.8% in the 3rd quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company’s stock worth $98,000 after buying an additional 42 shares in the last quarter. 17.88% of the stock is owned by institutional investors.

Insider Activity at Elbit Systems

In related news, EVP Jonathan Ariel sold 7,654 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bezhalel Machlis sold 25,514 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $22,641,123.60. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 69,736 shares of company stock valued at $61,883,726. Insiders own 0.84% of the company’s stock.

Elbit Systems Price Performance

ESLT opened at $837.59 on Wednesday. The stock has a fifty day moving average of $842.59 and a 200-day moving average of $738.73. The firm has a market capitalization of $37.23 billion, a P/E ratio of 67.82, a PEG ratio of 3.38 and a beta of 0.14. Elbit Systems Ltd. has a 12-month low of $407.76 and a 12-month high of $1,016.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

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

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio (DPR) is 26.96%.

Analyst Ratings Changes

A number of brokerages recently issued reports on ESLT. JPMorgan Chase & Co. increased their price objective on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Zacks Research raised Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Elbit Systems currently has an average rating of “Moderate Buy” and an average 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.