Elbit Systems Ltd. $ESLT Holdings Boosted by Engineers Gate Manager LP

Engineers Gate Manager LP raised its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 542.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,507 shares of the aerospace company’s stock after acquiring an additional 2,117 shares during the period. Engineers Gate Manager LP’s holdings in Elbit Systems were worth $1,902,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ESLT. WPG Advisers LLC bought a new stake in shares of Elbit Systems in the 1st quarter worth approximately $26,000. Optiver Holding B.V. bought a new position in Elbit Systems during the 1st quarter worth $46,000. IFP Advisors Inc increased its position in Elbit Systems by 225.0% in the second quarter. IFP Advisors Inc now owns 65 shares of the aerospace company’s stock worth $49,000 after buying an additional 45 shares during the period. Archer Investment Corp bought a new stake in Elbit Systems in the first quarter valued at $85,000. Finally, Leonteq Securities AG bought a new stake in Elbit Systems in the 4th quarter valued at about $68,000. 17.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lowered their target price on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a report on Wednesday, August 19th. Wall Street Zen cut Elbit Systems from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Morgan Stanley set a $845.00 price objective on shares of Elbit Systems in a research note on Wednesday, July 15th. Finally, Jefferies Financial Group lowered their price objective 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. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $870.00.

Elbit Systems Stock Up 0.9%

ESLT stock opened at $731.75 on Wednesday. Elbit Systems Ltd. has a 12-month low of $453.00 and a 12-month high of $1,016.06. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a market cap of $32.53 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 3.01 and a beta of 0.14. The company has a 50 day moving average of $762.45 and a two-hundred day moving average of $813.73.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.69 by $0.45. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.25 billion. On average, equities analysts anticipate that Elbit Systems Ltd. will post 15.61 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Tuesday, October 13th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, October 13th. Elbit Systems’s dividend payout ratio is presently 25.09%.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies systems for military, homeland security, and commercial aviation applications. The company’s portfolio includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions; unmanned aircraft and ground systems; electro-optical and night-vision equipment; electronic warfare and signals intelligence systems; and cyber-related technologies.

Elbit Systems also provides products and services for land forces, including artillery systems, precision-guided munitions, vehicle systems, tactical communications, and fire-control solutions.