ARK Investment Management LLC Sells 5,277 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

ARK Investment Management LLC lessened its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,253 shares of the aerospace company’s stock after selling 5,277 shares during the quarter. ARK Investment Management LLC’s holdings in Elbit Systems were worth $23,085,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Legal Advantage Investments Inc. boosted its position in shares of Elbit Systems by 22.0% during the 4th quarter. Legal Advantage Investments Inc. now owns 15,722 shares of the aerospace company’s stock valued at $3,353,000 after acquiring an additional 2,830 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Elbit Systems by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 809,337 shares of the aerospace company’s stock valued at $160,233,000 after buying an additional 8,966 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Elbit Systems by 1.6% during the 3rd quarter. Deutsche Bank AG now owns 17,126 shares of the aerospace company’s stock valued at $3,391,000 after buying an additional 263 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Elbit Systems by 0.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,488 shares of the aerospace company’s stock valued at $1,889,000 after buying an additional 67 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Elbit Systems by 3.3% during the 3rd quarter. Creative Planning now owns 2,594 shares of the aerospace company’s stock valued at $514,000 after buying an additional 82 shares in the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT opened at $211.15 on Thursday. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 43.72 and a beta of 0.55. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 0.13. Elbit Systems Ltd. has a 1-year low of $166.35 and a 1-year high of $225.64. The stock’s 50-day moving average is $208.18 and its 200 day moving average is $204.62.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Tuesday, March 26th. The aerospace company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Elbit Systems had a return on equity of 10.30% and a net margin of 3.60%. During the same period in the previous year, the firm earned $1.68 EPS. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 6.6 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Wednesday, April 24th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 23rd. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. Elbit Systems’s dividend payout ratio (DPR) is currently 34.37%.

Analyst Ratings Changes

Separately, StockNews.com raised Elbit Systems from a “hold” rating to a “buy” rating in a report on Friday, December 1st.

Elbit Systems 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.