Elbit Systems Ltd. $ESLT Stock Position Lessened by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. lessened its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,830 shares of the aerospace company’s stock after selling 200 shares during the quarter. Elbit Systems makes up 3.1% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 7th largest holding. Legal Advantage Investments Inc.’s holdings in Elbit Systems were worth $6,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ESLT. Larson Financial Group LLC acquired a new position in Elbit Systems during the 1st quarter worth $29,000. SBI Securities Co. Ltd. grew its stake in Elbit Systems by 232.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 153 shares of the aerospace company’s stock worth $59,000 after purchasing an additional 107 shares in the last quarter. SVB Wealth LLC acquired a new position in Elbit Systems during the 1st quarter worth $77,000. Grove Bank & Trust grew its stake in Elbit Systems by 1,900.0% during the 2nd quarter. Grove Bank & Trust now owns 200 shares of the aerospace company’s stock worth $90,000 after purchasing an additional 190 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Elbit Systems during the 1st quarter worth $87,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Trading Down 0.5%

NASDAQ:ESLT opened at $502.35 on Friday. Elbit Systems Ltd. has a 1 year low of $204.25 and a 1 year high of $529.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a market cap of $22.33 billion, a P/E ratio of 57.02, a P/E/G ratio of 1.83 and a beta of 0.33. The stock has a 50-day simple moving average of $485.81 and a 200-day simple moving average of $439.54.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the business earned $2.08 EPS. As a group, analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Stockholders of record on Tuesday, October 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. This is an increase from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s dividend payout ratio (DPR) is presently 22.70%.

Wall Street Analyst Weigh In

Several research analysts recently commented on ESLT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Elbit Systems in a research note on Wednesday. Wall Street Zen cut Elbit Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. assumed coverage on Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price for the company. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Elbit Systems currently has a consensus rating of “Hold” and an average target price of $530.00.

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.