Arrowstreet Capital Limited Partnership Sells 118,469 Shares of Elbit Systems Ltd. $ESLT

Arrowstreet Capital Limited Partnership trimmed its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 25.1% during the first quarter, HoldingsChannel reports. The fund owned 354,104 shares of the aerospace company’s stock after selling 118,469 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Elbit Systems were worth $298,175,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd boosted its stake in Elbit Systems by 34.4% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after purchasing an additional 397,049 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Elbit Systems in the 3rd quarter valued at about $172,673,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Elbit Systems by 206.1% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock valued at $228,914,000 after purchasing an additional 181,524 shares during the period. Jennison Associates LLC bought a new stake in shares of Elbit Systems in the first quarter valued at about $128,135,000. Finally, Bank of America Corp DE lifted its holdings in shares of 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 valued at $84,848,000 after purchasing an additional 92,449 shares in the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT opened at $820.21 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $36.46 billion, a P/E ratio of 66.41, a P/E/G ratio of 3.43 and a beta of 0.17. Elbit Systems Ltd. has a 12 month low of $432.85 and a 12 month high of $1,016.06. The stock has a 50 day moving average of $793.22 and a 200-day moving average of $797.24.

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, beating analysts’ consensus estimates of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. As a group, equities research analysts predict that Elbit Systems Ltd. will post 15.3 EPS for the current year.

Elbit Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders 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 dividend yield of 0.5%. The ex-dividend date was Tuesday, June 23rd. Elbit Systems’s payout ratio is currently 26.96%.

Analyst Upgrades and Downgrades

ESLT has been the subject of a number of research reports. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. JPMorgan Chase & Co. boosted 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. Jefferies Financial Group reduced their price target on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 price objective on shares of Elbit Systems in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $803.75.

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.