JPMorgan Chase & Co. Cuts Elbit Systems (NASDAQ:ESLT) Price Target to $885.00

Elbit Systems (NASDAQ:ESLT) had its price target cut by JPMorgan Chase & Co. from $950.00 to $885.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

A number of other analysts have also commented on the stock. Jefferies Financial Group cut their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research report on Wednesday, June 24th. Morgan Stanley set a $845.00 target price on shares of Elbit Systems in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Elbit Systems from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $787.50.

Elbit Systems Stock Down 0.3%

NASDAQ:ESLT opened at $741.33 on Wednesday. The stock has a 50-day simple moving average of $783.80 and a 200 day simple moving average of $811.13. Elbit Systems has a 52-week low of $447.00 and a 52-week high of $1,016.06. The company has a market cap of $32.95 billion, a PE ratio of 55.87, a PEG ratio of 3.16 and a beta of 0.17. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.45. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. On average, sell-side analysts expect that Elbit Systems will post 15.3 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, October 13th. This represents a $4.00 dividend on an annualized basis and a yield of 0.5%. Elbit Systems’s dividend payout ratio (DPR) is presently 25.09%.

Institutional Trading of Elbit Systems

Several institutional investors and hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Elbit Systems by 4.5% during 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 period. Vanguard Group Inc. raised its stake in Elbit Systems by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock valued at $573,131,000 after acquiring an additional 13,406 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in 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 acquiring an additional 12,003 shares during the period. Meitav Investment House Ltd. lifted its holdings in Elbit Systems by 8.9% during the 1st quarter. Meitav Investment House Ltd. now owns 397,089 shares of the aerospace company’s stock valued at $332,985,000 after purchasing an additional 32,617 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Elbit Systems by 10.0% during the 3rd quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company’s stock valued at $189,090,000 after purchasing an additional 33,619 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

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.