Hsbc Holdings PLC Grows Position in Elbit Systems Ltd. $ESLT

Hsbc Holdings PLC lifted its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 14.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,826 shares of the aerospace company’s stock after acquiring an additional 1,657 shares during the period. Hsbc Holdings PLC’s holdings in Elbit Systems were worth $5,707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd increased its holdings in Elbit Systems by 0.3% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company’s stock valued at $520,189,000 after purchasing an additional 4,248 shares during the last quarter. Vanguard Group Inc. raised its holdings in Elbit Systems by 1.8% during the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company’s stock worth $341,276,000 after purchasing an additional 15,552 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in Elbit Systems by 35.1% in the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock valued at $271,438,000 after buying an additional 158,689 shares during the last quarter. Meitav Investment House Ltd. increased its holdings in shares of Elbit Systems by 27.7% in the second quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after purchasing an additional 82,103 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after buying an additional 134,300 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESLT. JPMorgan Chase & Co. began coverage on Elbit Systems in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 price objective for the company. Bank of America boosted their price target on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Elbit Systems in a report on Monday. Finally, Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $530.00.

Elbit Systems Trading Down 0.0%

Shares of ESLT opened at $480.11 on Friday. Elbit Systems Ltd. has a 1-year low of $243.51 and a 1-year high of $529.99. The stock has a market capitalization of $21.34 billion, a P/E ratio of 48.79, a P/E/G ratio of 1.68 and a beta of 0.24. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $486.94 and its 200 day moving average price is $463.57.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.60. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. Analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 22nd. Elbit Systems’s dividend payout ratio is presently 25.41%.

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.