Creative Planning raised its stake in Elbit Systems Ltd. (NASDAQ:ESLT – Free Report) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,512 shares of the aerospace company’s stock after acquiring an additional 374 shares during the period. Creative Planning’s holdings in Elbit Systems were worth $525,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESLT. Bank of New York Mellon Corp raised its holdings in Elbit Systems by 10.9% in the 1st quarter. Bank of New York Mellon Corp now owns 54,176 shares of the aerospace company’s stock valued at $11,943,000 after acquiring an additional 5,319 shares in the last quarter. HighTower Advisors LLC raised its holdings in Elbit Systems by 3.2% in the 1st quarter. HighTower Advisors LLC now owns 2,708 shares of the aerospace company’s stock valued at $598,000 after acquiring an additional 83 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Elbit Systems by 55.4% during the 1st quarter. Citigroup Inc. now owns 16,738 shares of the aerospace company’s stock worth $3,671,000 after buying an additional 5,970 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Elbit Systems by 3.6% during the 1st quarter. Bank of Montreal Can now owns 7,262 shares of the aerospace company’s stock worth $502,000 after buying an additional 250 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Elbit Systems by 10.0% during the 1st quarter. BlackRock Inc. now owns 60,140 shares of the aerospace company’s stock worth $13,258,000 after buying an additional 5,468 shares in the last quarter. 24.08% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on Elbit Systems in a report on Thursday, October 5th. They set a “buy” rating for the company.
Elbit Systems Price Performance
Elbit Systems stock opened at $195.75 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.65 and a current ratio of 1.11. Elbit Systems Ltd. has a 52 week low of $162.01 and a 52 week high of $225.22. The stock has a market capitalization of $8.66 billion, a P/E ratio of 32.79 and a beta of 0.56. The stock has a fifty day moving average of $201.87 and a 200-day moving average of $199.64.
Elbit Systems (NASDAQ:ESLT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 15th. The aerospace company reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.40 billion. Elbit Systems had a return on equity of 10.36% and a net margin of 4.66%. On average, sell-side analysts expect that Elbit Systems Ltd. will post 6.9 earnings per share for the current fiscal year.
Elbit Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Tuesday, October 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.02%. Elbit Systems’s dividend payout ratio is currently 27.81%.
About Elbit Systems
Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.
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