Cubist Systematic Strategies LLC Sells 214 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Cubist Systematic Strategies LLC cut its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 38.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 345 shares of the aerospace company’s stock after selling 214 shares during the period. Cubist Systematic Strategies LLC’s holdings in Elbit Systems were worth $61,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Altshuler Shaham Ltd grew its holdings in shares of Elbit Systems by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after acquiring an additional 18,014 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Elbit Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company’s stock valued at $174,597,000 after acquiring an additional 11,643 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after acquiring an additional 402,512 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Elbit Systems by 13.2% in the second quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock valued at $42,117,000 after acquiring an additional 27,851 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Elbit Systems by 34.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after acquiring an additional 24,484 shares in the last quarter. 17.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Elbit Systems Price Performance

Elbit Systems stock opened at $209.80 on Thursday. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $225.64. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $199.38 and its 200 day simple moving average is $194.43. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 41.30 and a beta of 0.53.

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

Elbit Systems Cuts Dividend

The company 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 $0.416 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.66 annualized dividend and a yield of 0.79%. Elbit Systems’s payout ratio is 32.68%.

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.