Legal & General Group Plc Acquires 7,666 Shares of Elbit Systems Ltd. $ESLT

Legal & General Group Plc increased its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 119,538 shares of the aerospace company’s stock after purchasing an additional 7,666 shares during the period. Legal & General Group Plc’s holdings in Elbit Systems were worth $68,865,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Cardinal Capital Management grew its stake in shares of Elbit Systems by 0.3% in the fourth quarter. Cardinal Capital Management now owns 7,889 shares of the aerospace company’s stock worth $4,558,000 after purchasing an additional 20 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Elbit Systems by 2.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,193 shares of the aerospace company’s stock valued at $608,000 after acquiring an additional 29 shares during the last quarter. Greenleaf Trust boosted its position in Elbit Systems by 7.1% during the fourth quarter. Greenleaf Trust now owns 466 shares of the aerospace company’s stock valued at $269,000 after acquiring an additional 31 shares during the last quarter. West Family Investments Inc. boosted its position in Elbit Systems by 2.9% during the third quarter. West Family Investments Inc. now owns 1,136 shares of the aerospace company’s stock valued at $579,000 after acquiring an additional 32 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in Elbit Systems by 18.4% during the third quarter. SBI Securities Co. Ltd. now owns 219 shares of the aerospace company’s stock valued at $112,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

ESLT has been the topic of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a research report on Wednesday. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $742.75.

Elbit Systems Stock Performance

Shares of ESLT opened at $880.89 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $39.16 billion, a P/E ratio of 71.33, a price-to-earnings-growth ratio of 3.71 and a beta of 0.14. The firm’s fifty day simple moving average is $852.20 and its two-hundred day simple moving average is $719.73. Elbit Systems Ltd. has a 12 month low of $394.00 and a 12 month high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. As a group, analysts predict that Elbit Systems Ltd. will post 15.6 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, June 23rd. Elbit Systems’s dividend payout ratio is 29.31%.

Insider Activity at Elbit Systems

In other news, EVP Haim Daniel Delmar sold 7,654 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 69,736 shares of company stock worth $61,883,726. 0.84% of the stock is currently owned by insiders.

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.