Heard Capital LLC Sells 37,269 Shares of Elbit Systems Ltd. $ESLT

Heard Capital LLC cut its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,571 shares of the aerospace company’s stock after selling 37,269 shares during the quarter. Elbit Systems comprises approximately 4.8% of Heard Capital LLC’s holdings, making the stock its 11th largest holding. Heard Capital LLC owned approximately 0.40% of Elbit Systems worth $103,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mariner LLC lifted its position in shares of Elbit Systems by 6.2% during the fourth quarter. Mariner LLC now owns 5,308 shares of the aerospace company’s stock worth $3,067,000 after purchasing an additional 311 shares during the last quarter. Arax Advisory Partners lifted its position in shares of Elbit Systems by 25.0% during the fourth quarter. Arax Advisory Partners now owns 150 shares of the aerospace company’s stock worth $87,000 after purchasing an additional 30 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Elbit Systems during the fourth quarter worth $540,000. Greenline Wealth Management LLC bought a new stake in shares of Elbit Systems during the fourth quarter worth $85,000. Finally, Gen Wealth Partners Inc lifted its position in shares of Elbit Systems by 72.0% during the fourth quarter. Gen Wealth Partners Inc now owns 160 shares of the aerospace company’s stock worth $92,000 after purchasing an additional 67 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Elbit Systems news, EVP Yoram Shmuely sold 7,654 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $6,792,159.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Haim Daniel Delmar sold 7,654 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,736 shares of company stock valued at $61,883,726 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Elbit Systems Price Performance

ESLT opened at $821.99 on Wednesday. The business’s 50-day moving average is $840.25 and its two-hundred day moving average is $751.91. Elbit Systems Ltd. has a 1 year low of $415.90 and a 1 year high of $1,016.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 0.86. The firm has a market capitalization of $36.54 billion, a PE ratio of 66.56, a price-to-earnings-growth ratio of 3.47 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.14 billion. Research analysts anticipate that Elbit Systems Ltd. will post 15.23 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, June 23rd. Elbit Systems’s payout ratio is 26.96%.

Analyst Ratings Changes

Several equities analysts have recently commented on ESLT shares. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Jefferies Financial Group restated a “hold” rating and set a $950.00 price target on shares of Elbit Systems in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price target on Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $742.75.

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.