Arrowstreet Capital Limited Partnership Sells 11,269 Shares of Elbit Systems Ltd. $ESLT

Arrowstreet Capital Limited Partnership decreased its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 472,573 shares of the aerospace company’s stock after selling 11,269 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Elbit Systems were worth $272,632,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. lifted its stake in Elbit Systems by 296.0% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock valued at $3,553,000 after buying an additional 5,210 shares in the last quarter. ARK Investment Management LLC lifted its stake in Elbit Systems by 11.6% in the third quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock valued at $27,309,000 after buying an additional 5,550 shares in the last quarter. Van ECK Associates Corp lifted its stake in Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after buying an additional 628,236 shares in the last quarter. Cadent Capital Advisors LLC bought a new position in Elbit Systems in the fourth quarter valued at approximately $1,493,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake 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 valued at $50,948,000 after buying an additional 77,192 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Performance

Shares of ESLT opened at $854.06 on Monday. Elbit Systems Ltd. has a 12 month low of $415.90 and a 12 month high of $1,016.06. The firm has a fifty day simple moving average of $843.07 and a 200 day simple moving average of $746.98. The stock has a market capitalization of $37.96 billion, a price-to-earnings ratio of 69.15, a PEG ratio of 3.53 and a beta of 0.14. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.14 billion. Research analysts forecast that Elbit Systems Ltd. will post 15.72 EPS for the current fiscal year.

Elbit Systems Announces Dividend

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

Insider Buying and Selling at Elbit Systems

In related news, EVP Yoram Shmuely sold 7,654 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bezhalel Machlis sold 25,514 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $22,641,123.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 69,736 shares of company stock valued at $61,883,726 in the last three months. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ESLT shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $950.00 target price on shares of Elbit Systems in a research note on Wednesday, May 27th. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. Finally, JPMorgan Chase & Co. increased their target price on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $742.75.

Elbit Systems 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.