Elbit Systems Ltd. $ESLT Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 18.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,299 shares of the aerospace company’s stock after selling 7,246 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.07% of Elbit Systems worth $16,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESLT. Assetmark Inc. lifted its holdings in shares of Elbit Systems by 11.2% during the 2nd quarter. Assetmark Inc. now owns 209 shares of the aerospace company’s stock worth $94,000 after acquiring an additional 21 shares during the period. SteelPeak Wealth LLC grew its holdings in 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 purchasing an additional 21 shares during the period. SBI Securities Co. Ltd. increased its position in Elbit Systems by 20.9% during 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 last quarter. Inspire Advisors LLC raised its stake in Elbit Systems by 3.6% during the third quarter. Inspire Advisors LLC now owns 1,376 shares of the aerospace company’s stock worth $701,000 after purchasing an additional 48 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Elbit Systems by 0.3% during the second quarter. Public Sector Pension Investment Board now owns 14,522 shares of the aerospace company’s stock worth $6,460,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Down 0.6%

Shares of Elbit Systems stock opened at $708.85 on Friday. Elbit Systems Ltd. has a twelve month low of $293.61 and a twelve month high of $737.51. The stock has a market cap of $31.51 billion, a price-to-earnings ratio of 72.04, a price-to-earnings-growth ratio of 2.17 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. The company has a fifty day moving average price of $566.65 and a 200 day moving average price of $508.33.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.99 billion. Equities research analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

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

About Elbit Systems

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.