Korea Investment CORP Lowers Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Korea Investment CORP cut its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,083 shares of the aerospace company’s stock after selling 216 shares during the quarter. Korea Investment CORP’s holdings in Elbit Systems were worth $2,114,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ESLT. Prestige Wealth Management Group LLC grew its holdings in shares of Elbit Systems by 150.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 75 shares in the last quarter. Morse Asset Management Inc bought a new position in Elbit Systems in the 3rd quarter valued at $40,000. Sierra Ocean LLC purchased a new stake in shares of Elbit Systems during the 4th quarter valued at $41,000. Smartleaf Asset Management LLC raised its stake in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 106 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Elbit Systems in the 3rd quarter worth about $63,000. 17.88% of the stock is owned by institutional investors.

Elbit Systems Price Performance

Shares of NASDAQ ESLT opened at $387.36 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $334.52 and a two-hundred day simple moving average of $271.78. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $420.00. The firm has a market cap of $17.22 billion, a price-to-earnings ratio of 66.22 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.71. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. Analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.62%. Elbit Systems’s dividend payout ratio (DPR) is 27.72%.

Analyst Ratings Changes

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

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.