Prestige Wealth Management Group LLC Purchases 75 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Prestige Wealth Management Group LLC raised its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 150.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125 shares of the aerospace company’s stock after purchasing an additional 75 shares during the period. Prestige Wealth Management Group LLC’s holdings in Elbit Systems were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Y.D. More Investments Ltd lifted its holdings in Elbit Systems by 10.1% during the fourth quarter. Y.D. More Investments Ltd now owns 449,747 shares of the aerospace company’s stock worth $117,520,000 after buying an additional 41,401 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Elbit Systems by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after purchasing an additional 18,614 shares during the last quarter. Vanguard Group Inc. boosted its position in Elbit Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 874,352 shares of the aerospace company’s stock valued at $229,268,000 after purchasing an additional 10,215 shares in the last quarter. Heard Capital LLC grew its stake in Elbit Systems by 4.8% in the third quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after purchasing an additional 10,070 shares during the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of Elbit Systems by 12.1% during the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock worth $14,872,000 after acquiring an additional 8,000 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Elbit Systems Stock Up 2.4 %

Elbit Systems stock opened at $405.01 on Wednesday. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $420.00. The company has a market cap of $18.00 billion, a PE ratio of 69.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The business’s 50-day simple moving average is $325.46 and its two-hundred day simple moving average is $265.04.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.71. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Equities analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is 27.72%.

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.