Meitav Investment House Ltd. Acquires 32,617 Shares of Elbit Systems Ltd. $ESLT

Meitav Investment House Ltd. increased its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,089 shares of the aerospace company’s stock after acquiring an additional 32,617 shares during the period. Elbit Systems makes up about 3.7% of Meitav Investment House Ltd.’s holdings, making the stock its 6th largest holding. Meitav Investment House Ltd.’s holdings in Elbit Systems were worth $332,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CoreCap Advisors LLC purchased a new stake in shares of Elbit Systems during the 4th quarter worth $26,000. Wexford Capital LP acquired a new stake in Elbit Systems in the third quarter valued at $63,000. Leonteq Securities AG acquired a new stake in Elbit Systems in the fourth quarter valued at $68,000. Hilton Head Capital Partners LLC purchased a new stake in Elbit Systems during the 4th quarter worth about $69,000. Finally, Greenline Wealth Management LLC purchased a new stake in Elbit Systems during the 4th quarter worth about $85,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ESLT shares. JPMorgan Chase & Co. upped their price target on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Finally, Jefferies Financial Group reduced their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $725.25.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded down $33.19 during midday trading on Tuesday, hitting $777.82. The stock had a trading volume of 41,931 shares, compared to its average volume of 143,276. Elbit Systems Ltd. has a 1 year low of $422.84 and a 1 year high of $1,016.06. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $805.11 and a two-hundred day moving average price of $779.79. The company has a market capitalization of $34.57 billion, a PE ratio of 62.94, a P/E/G ratio of 3.41 and a beta of 0.17.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. As a group, equities analysts predict that Elbit Systems Ltd. will post 15.3 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders 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 annualized dividend and a yield of 0.5%. Elbit Systems’s payout ratio is 26.96%.

Insider Buying and Selling

In other news, EVP Ran Kril sold 6,803 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,036,982.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Oren Yaacov Sabag sold 8,504 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $7,546,449.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,736 shares of company stock worth $61,883,726 over the last ninety days. Insiders own 0.84% of the company’s stock.

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.