Creative Planning Boosts Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Creative Planning raised its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 32.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,814 shares of the aerospace company’s stock after buying an additional 938 shares during the quarter. Creative Planning’s holdings in Elbit Systems were worth $763,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Elbit Systems by 57.5% during the 1st quarter. Russell Investments Group Ltd. now owns 16,007 shares of the aerospace company’s stock worth $3,356,000 after purchasing an additional 5,846 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Elbit Systems by 53.7% during the 1st quarter. Advisors Asset Management Inc. now owns 10,626 shares of the aerospace company’s stock worth $2,234,000 after purchasing an additional 3,712 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Elbit Systems during the 1st quarter worth about $1,966,000. Marshall Wace LLP purchased a new stake in shares of Elbit Systems during the 2nd quarter worth about $2,181,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Elbit Systems by 35.3% during the 2nd quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock worth $3,727,000 after purchasing an additional 5,500 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Performance

Elbit Systems stock opened at $228.71 on Friday. The stock’s 50 day moving average price is $204.61 and its 200 day moving average price is $195.75. The firm has a market capitalization of $10.17 billion, a PE ratio of 42.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. Elbit Systems Ltd. has a one year low of $175.30 and a one year high of $231.26.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.77 by $0.31. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period in the previous year, the company posted $1.57 EPS. As a group, sell-side analysts expect that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Tuesday, October 15th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is presently 30.51%.

Elbit Systems Company 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.