Westpac Banking Corp lessened its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 63.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,560 shares of the aerospace company’s stock after selling 2,705 shares during the period. Westpac Banking Corp’s holdings in Elbit Systems were worth $671,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Elbit Systems by 63.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,047 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 1,183 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Elbit Systems by 6.8% in the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 55 shares in the last quarter. Rainier Investment Management LLC boosted its stake in shares of Elbit Systems by 467.8% in the 2nd quarter. Rainier Investment Management LLC now owns 70,410 shares of the aerospace company’s stock valued at $8,713,000 after purchasing an additional 58,010 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Elbit Systems by 16.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 31,794 shares of the aerospace company’s stock valued at $3,935,000 after purchasing an additional 4,570 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Elbit Systems by 2.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,928 shares of the aerospace company’s stock valued at $238,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 11.13% of the company’s stock.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd.

Shares of Elbit Systems Ltd. (NASDAQ ESLT) opened at 140.08 on Wednesday. Elbit Systems Ltd. has a 52 week low of $91.20 and a 52 week high of $143.69. The stock has a 50 day moving average of $132.20 and a 200 day moving average of $123.36. The firm has a market cap of $5.99 billion, a P/E ratio of 25.10 and a beta of 0.62.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, August 15th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter. Elbit Systems had a return on equity of 16.38% and a net margin of 7.23%. The firm had revenue of $818.30 million for the quarter. Analysts anticipate that Elbit Systems Ltd. will post $6.27 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Elbit Systems’s previous dividend of $0.37. Elbit Systems’s payout ratio is currently 31.54%.

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About Elbit Systems

Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.

Institutional Ownership by Quarter for Elbit Systems (NASDAQ:ESLT)

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