Systematic Financial Management LP Lowers Stock Holdings in Elbit Systems Ltd. $ESLT

Systematic Financial Management LP trimmed its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 8.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,113 shares of the aerospace company’s stock after selling 2,712 shares during the period. Systematic Financial Management LP’s holdings in Elbit Systems were worth $17,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ESLT. Van ECK Associates Corp lifted its position in shares of Elbit Systems by 3,162.0% in the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after purchasing an additional 628,236 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Elbit Systems in the 3rd quarter worth approximately $172,673,000. Bank of America Corp DE lifted its position in shares of Elbit Systems by 125.0% in the 3rd quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock worth $84,848,000 after purchasing an additional 92,449 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Elbit Systems by 44.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company’s stock worth $128,573,000 after purchasing an additional 77,741 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Elbit Systems by 709.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company’s stock worth $50,948,000 after purchasing an additional 77,192 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analysts Set New Price Targets

ESLT has been the subject of a number of analyst reports. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. JPMorgan Chase & Co. increased their target price on shares of Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $667.00.

Insider Buying and Selling at Elbit Systems

In other Elbit Systems news, EVP Haim Daniel Delmar sold 7,654 shares of the company’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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Oren Yaacov Sabag sold 8,504 shares of the company’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 $7,546,449.60. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 69,736 shares of company stock worth $61,883,726 in the last three months. 0.84% of the stock is owned by company insiders.

Elbit Systems Trading Up 0.5%

Shares of Elbit Systems stock opened at $767.82 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a 12-month low of $373.17 and a 12-month high of $1,016.06. The firm has a market capitalization of $34.13 billion, a price-to-earnings ratio of 67.59, a PEG ratio of 3.22 and a beta of 0.14. The firm’s 50 day simple moving average is $859.34 and its two-hundred day simple moving average is $706.64.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.33. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.09 billion. Analysts predict that Elbit Systems Ltd. will post 15.47 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Shareholders of record on Monday, April 13th were paid 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 was Monday, April 13th. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.75. Elbit Systems’s dividend payout ratio (DPR) is currently 29.23%.

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.