3,810 Shares in Elbit Systems Ltd. (NASDAQ:ESLT) Bought by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA acquired a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,810 shares of the aerospace company’s stock, valued at approximately $762,000.

Several other hedge funds have also recently made changes to their positions in ESLT. Y.D. More Investments Ltd raised its stake in Elbit Systems by 32,724.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after buying an additional 402,512 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Elbit Systems in the first quarter valued at approximately $10,893,000. Meitav Investment House Ltd. grew its holdings in shares of Elbit Systems by 13.2% in the second quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock valued at $42,117,000 after acquiring an additional 27,851 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Elbit Systems by 34.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after acquiring an additional 24,484 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Elbit Systems by 253.0% in the second quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Stock Down 1.3 %

NASDAQ ESLT opened at $207.88 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.63. Elbit Systems Ltd. has a 1 year low of $175.30 and a 1 year high of $225.64. The business’s 50-day moving average is $201.37 and its 200 day moving average is $194.65. The stock has a market capitalization of $9.24 billion, a PE ratio of 40.92 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business earned $1.57 earnings per share. Sell-side analysts forecast that Elbit Systems Ltd. will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is 32.68%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th.

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.