Cardinal Capital Management Boosts Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Cardinal Capital Management boosted its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,874 shares of the aerospace company’s stock after acquiring an additional 910 shares during the period. Cardinal Capital Management’s holdings in Elbit Systems were worth $2,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. increased its stake in Elbit Systems by 2.4% during the 3rd quarter. Invesco Ltd. now owns 234,987 shares of the aerospace company’s stock valued at $46,523,000 after purchasing an additional 5,458 shares in the last quarter. Acadian Asset Management LLC increased its stake in Elbit Systems by 495.3% during the 3rd quarter. Acadian Asset Management LLC now owns 4,530 shares of the aerospace company’s stock valued at $902,000 after purchasing an additional 3,769 shares in the last quarter. Mariner LLC increased its stake in Elbit Systems by 3.7% during the 3rd quarter. Mariner LLC now owns 2,512 shares of the aerospace company’s stock valued at $497,000 after purchasing an additional 90 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Elbit Systems by 30.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,528 shares of the aerospace company’s stock valued at $1,094,000 after purchasing an additional 1,278 shares in the last quarter. Finally, Ramirez Asset Management Inc. acquired a new position in Elbit Systems during the 3rd quarter valued at approximately $2,714,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 29th.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded down $2.12 during midday trading on Thursday, reaching $176.25. The company’s stock had a trading volume of 66,553 shares, compared to its average volume of 23,239. The firm has a market capitalization of $7.83 billion, a PE ratio of 34.62 and a beta of 0.55. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $225.64. The stock has a fifty day moving average of $193.78 and a 200 day moving average of $203.01. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 0.12.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. Elbit Systems had a net margin of 3.70% and a return on equity of 10.14%. During the same quarter in the prior year, the business earned $1.70 earnings per share. On average, equities analysts expect that Elbit Systems Ltd. will post 7.45 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, June 18th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 18th. This represents a $2.00 annualized dividend and a yield of 1.13%. Elbit Systems’s dividend payout ratio is presently 32.68%.

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.