Flatrock Wealth Partners LLC Makes New $1.07 Million Investment in Elbit Systems Ltd. $ESLT

Flatrock Wealth Partners LLC acquired a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,264 shares of the aerospace company’s stock, valued at approximately $1,073,000.

Other institutional investors have also made changes to their positions in the company. Meitav Investment House Ltd. boosted its position in Elbit Systems by 8.9% during the first quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company’s stock worth $332,985,000 after purchasing an additional 32,617 shares during the period. DGS Capital Management LLC bought a new position in shares of Elbit Systems in the first quarter valued at approximately $414,000. AdvisorShares Investments LLC acquired a new stake in shares of Elbit Systems in the first quarter worth $1,361,000. HB Wealth Management LLC lifted its stake in shares of Elbit Systems by 75.9% in the first quarter. HB Wealth Management LLC now owns 1,103 shares of the aerospace company’s stock worth $937,000 after buying an additional 476 shares during the last quarter. Finally, Optas LLC bought a new stake in shares of Elbit Systems during the 1st quarter worth $200,000. 17.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Haim Daniel Delmar sold 7,654 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 $6,792,159.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan Ariel sold 7,654 shares of the firm’s 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 $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 69,736 shares of company stock worth $61,883,726. Insiders own 0.84% of the company’s stock.

Elbit Systems Stock Down 4.1%

ESLT stock opened at $777.93 on Wednesday. The business’s 50-day simple moving average is $804.23 and its 200 day simple moving average is $781.47. 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 Ltd. has a twelve month low of $422.84 and a twelve month high of $1,016.06. The company has a market cap of $34.58 billion, a PE ratio of 62.99, a price-to-earnings-growth ratio of 3.44 and a beta of 0.17.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. On average, research analysts anticipate that Elbit Systems Ltd. will post 15.3 earnings per share for the current year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 23rd. Elbit Systems’s payout ratio is presently 26.96%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ESLT. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $725.25.

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.