Frank Rimerman Advisors LLC Takes $466,000 Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Frank Rimerman Advisors LLC bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the second quarter, according to its most recent filing with the SEC. The fund bought 2,640 shares of the aerospace company’s stock, valued at approximately $466,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Elbit Systems by 110.1% in the fourth quarter. Hsbc Holdings PLC now owns 12,131 shares of the aerospace company’s stock valued at $2,589,000 after acquiring an additional 6,357 shares during the last quarter. Parallel Advisors LLC lifted its stake in Elbit Systems by 21.2% in the fourth quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 94 shares during the last quarter. TD Asset Management Inc grew its holdings in Elbit Systems by 2.9% during the fourth quarter. TD Asset Management Inc now owns 7,219 shares of the aerospace company’s stock valued at $1,540,000 after purchasing an additional 206 shares during the period. Heard Capital LLC purchased a new stake in Elbit Systems in the fourth quarter worth $26,428,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Elbit Systems in the fourth quarter valued at $993,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Price Performance

ESLT opened at $194.20 on Wednesday. The firm has a 50-day moving average price of $192.81 and a 200-day moving average price of $194.41. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $225.64. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 38.23 and a beta of 0.54.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.31. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same period in the previous year, the business earned $1.57 EPS. Equities analysts expect that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Elbit Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.416 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.86%. Elbit Systems’s payout ratio is 32.68%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th.

Elbit Systems Profile

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.