Elbit Systems Ltd. $ESLT Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,501 shares of the aerospace company’s stock after selling 1,746 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Elbit Systems were worth $8,728,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Elbit Systems by 4.5% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock worth $1,351,958,000 after acquiring an additional 69,165 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Elbit Systems by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock valued at $573,131,000 after purchasing an additional 13,406 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Elbit Systems by 2.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after purchasing an additional 12,003 shares during the period. Meitav Investment House Ltd. increased its stake in Elbit Systems by 8.9% in the 1st quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company’s stock worth $332,985,000 after purchasing an additional 32,617 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Elbit Systems by 10.0% during the third quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company’s stock valued at $189,090,000 after buying an additional 33,619 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Price Performance

NASDAQ ESLT opened at $849.27 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 0.86. The firm has a market capitalization of $37.75 billion, a price-to-earnings ratio of 68.77, a price-to-earnings-growth ratio of 3.52 and a beta of 0.17. The company has a 50 day simple moving average of $797.67 and a 200-day simple moving average of $804.64. Elbit Systems Ltd. has a 52-week low of $432.85 and a 52-week high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, beating 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Equities research analysts predict that Elbit Systems Ltd. will post 15.3 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ESLT. Morgan Stanley set a $845.00 target price on shares of Elbit Systems in a research report on Wednesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group cut their target price on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $803.75.

Elbit Systems Company Profile

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.