Altshuler Shaham Ltd Has $294.52 Million Position in Elbit Systems Ltd. $ESLT

Altshuler Shaham Ltd decreased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 16.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 511,720 shares of the aerospace company’s stock after selling 104,194 shares during the period. Elbit Systems accounts for about 4.3% of Altshuler Shaham Ltd’s portfolio, making the stock its 5th largest holding. Altshuler Shaham Ltd owned 1.15% of Elbit Systems worth $294,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ESLT. CoreCap Advisors LLC bought a new stake in shares of Elbit Systems during the 4th quarter worth about $26,000. Wexford Capital LP bought a new stake in shares of Elbit Systems during the 3rd quarter worth about $63,000. Leonteq Securities AG bought a new stake in shares of Elbit Systems during the 4th quarter worth about $68,000. Hilton Head Capital Partners LLC bought a new stake in shares of Elbit Systems during the 4th quarter worth about $69,000. Finally, Greenline Wealth Management LLC bought a new stake in shares of Elbit Systems during the 4th quarter worth about $85,000. Institutional investors own 17.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, EVP Jonathan Ariel sold 7,654 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were 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 Yoram Shmuely sold 7,654 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is owned by company insiders.

Elbit Systems Stock Performance

NASDAQ ESLT opened at $821.82 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $36.53 billion, a P/E ratio of 66.54, a P/E/G ratio of 3.50 and a beta of 0.14. Elbit Systems Ltd. has a 12-month low of $415.90 and a 12-month high of $1,016.06. The firm has a 50-day moving average price of $838.21 and a two-hundred day moving average price of $754.39.

Elbit Systems (NASDAQ:ESLT) last posted 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. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. Analysts anticipate that Elbit Systems Ltd. will post 15.23 earnings per share for the current year.

Elbit Systems Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a dividend yield of 0.5%. Elbit Systems’s payout ratio is presently 26.96%.

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.