Dorsey Wright & Associates Invests $2.87 Million in Elbit Systems Ltd. $ESLT

Dorsey Wright & Associates purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,375 shares of the aerospace company’s stock, valued at approximately $2,866,000.

Several other institutional investors also recently made changes to their positions in the stock. Cadent Capital Advisors LLC purchased a new stake in Elbit Systems during the fourth quarter valued at about $1,493,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Elbit Systems by 709.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 88,075 shares of the aerospace company’s stock valued at $50,948,000 after purchasing an additional 77,192 shares during the period. UBS Group AG lifted its holdings in Elbit Systems by 35.5% in the 4th quarter. UBS Group AG now owns 126,864 shares of the aerospace company’s stock worth $73,291,000 after buying an additional 33,235 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Elbit Systems by 8.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,235 shares of the aerospace company’s stock worth $10,202,000 after acquiring an additional 1,357 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Elbit Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock valued at $573,131,000 after buying an additional 13,406 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Stock Up 0.4%

Shares of NASDAQ:ESLT opened at $741.55 on Friday. Elbit Systems Ltd. has a 52 week low of $427.08 and a 52 week high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. The company has a market cap of $32.96 billion, a PE ratio of 60.04, a price-to-earnings-growth ratio of 3.13 and a beta of 0.17. The firm has a 50 day simple moving average of $792.32 and a 200 day simple moving average of $789.92.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. As a group, research analysts expect that Elbit Systems Ltd. will post 15.3 earnings per share for the current year.

Elbit Systems Announces Dividend

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

Wall Street Analyst Weigh In

ESLT has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research report on Wednesday, June 24th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Morgan Stanley set a $845.00 target price on Elbit Systems in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $803.75.

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.