Elbit Systems Ltd. $ESLT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,826 shares of the aerospace company’s stock after selling 931 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Elbit Systems were worth $11,637,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Y.D. More Investments Ltd increased its position in Elbit Systems by 35.1% during the second quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after purchasing an additional 158,689 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Elbit Systems by 27.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock valued at $210,967,000 after purchasing an additional 101,083 shares during the last quarter. Meitav Investment House Ltd. grew its stake in shares of Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after buying an additional 82,103 shares during the period. Invesco Ltd. increased its holdings in shares of Elbit Systems by 2.5% during the 2nd quarter. Invesco Ltd. now owns 337,292 shares of the aerospace company’s stock worth $151,613,000 after buying an additional 8,310 shares during the last quarter. Finally, Heard Capital LLC raised its position in shares of Elbit Systems by 1.4% in the 2nd quarter. Heard Capital LLC now owns 195,398 shares of the aerospace company’s stock worth $87,831,000 after buying an additional 2,627 shares during the period. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT opened at $730.84 on Friday. The company has a market cap of $32.49 billion, a P/E ratio of 74.27, a PEG ratio of 2.22 and a beta of 0.22. Elbit Systems Ltd. has a one year low of $293.61 and a one year high of $737.51. The business’s 50-day simple moving average is $547.90 and its 200 day simple moving average is $500.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32.

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

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Monday, December 22nd were paid a dividend of $0.75 per share. 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 payout ratio is 22.87%.

Analyst Ratings Changes

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

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.