1832 Asset Management L.P. Sells 488,527 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

1832 Asset Management L.P. lowered its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 43.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 641,673 shares of the aerospace company’s stock after selling 488,527 shares during the quarter. 1832 Asset Management L.P. owned 1.44% of Elbit Systems worth $113,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ESLT. Blue Trust Inc. raised its holdings in shares of Elbit Systems by 368.6% during the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 129 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 84 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in shares of Elbit Systems by 53.8% during the first quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock valued at $86,000 after acquiring an additional 143 shares in the last quarter. Parallel Advisors LLC grew 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 worth $114,000 after purchasing an additional 94 shares during the period. Finally, TIAA Trust National Association purchased a new stake in Elbit Systems in the first quarter worth $201,000. Institutional investors own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Up 0.2 %

Elbit Systems stock opened at $192.24 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.66. Elbit Systems Ltd. has a one year low of $175.30 and a one year high of $225.64. The stock has a market capitalization of $8.55 billion, a PE ratio of 37.84 and a beta of 0.54. The business’s fifty day moving average is $192.60 and its 200 day moving average is $194.86.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results 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. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The company 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 company earned $1.57 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Tuesday, October 15th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is currently 32.68%.

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.