Eos Management L.P. Acquires New Shares in Elbit Systems Ltd. $ESLT

Eos Management L.P. bought a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the 3rd quarter, HoldingsChannel reports. The fund bought 5,073 shares of the aerospace company’s stock, valued at approximately $2,586,000. Elbit Systems accounts for about 1.0% of Eos Management L.P.’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds also recently made changes to their positions in the business. Assetmark Inc. raised its stake in shares of Elbit Systems by 11.2% during the second quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock valued at $94,000 after purchasing an additional 21 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Elbit Systems by 1.1% in the third quarter. SteelPeak Wealth LLC now owns 1,864 shares of the aerospace company’s stock valued at $950,000 after acquiring an additional 21 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 worth $608,000 after purchasing an additional 29 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Elbit Systems by 20.9% in the second quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock worth $83,000 after purchasing an additional 32 shares during the period. Finally, Inspire Advisors LLC increased its position in shares of Elbit Systems by 3.6% during the 3rd quarter. Inspire Advisors LLC now owns 1,376 shares of the aerospace company’s stock valued at $701,000 after purchasing an additional 48 shares during the period. Institutional investors own 17.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ESLT. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Morgan Stanley began coverage on Elbit Systems in a research report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target for the company. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. lifted their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $550.33.

Elbit Systems Trading Up 0.1%

Shares of Elbit Systems stock opened at $730.83 on Thursday. Elbit Systems Ltd. has a 1 year low of $294.99 and a 1 year high of $740.67. The company’s fifty day simple moving average is $585.20 and its 200-day simple moving average is $516.43. The company has a market cap of $32.49 billion, a price-to-earnings ratio of 74.27, a PEG ratio of 2.22 and a beta of 0.22. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.99 billion. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 22nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.4%. Elbit Systems’s dividend payout ratio (DPR) is currently 22.87%.

Elbit Systems 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.