Meitav Investment House Ltd. Boosts Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Meitav Investment House Ltd. raised its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 41.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 336,836 shares of the aerospace company’s stock after acquiring an additional 98,440 shares during the period. Elbit Systems makes up 1.1% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 26th biggest holding. Meitav Investment House Ltd. owned 0.76% of Elbit Systems worth $67,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. raised its stake in Elbit Systems by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,987 shares of the aerospace company’s stock valued at $598,000 after acquiring an additional 72 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Elbit Systems by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 53,971 shares of the aerospace company’s stock valued at $10,799,000 after acquiring an additional 593 shares during the last quarter. Spectrum Asset Management Inc. NB CA acquired a new position in Elbit Systems during the 3rd quarter worth approximately $762,000. Signaturefd LLC increased its position in Elbit Systems by 24.9% during the 3rd quarter. Signaturefd LLC now owns 1,124 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 224 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Elbit Systems by 8.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,421 shares of the aerospace company’s stock worth $284,000 after purchasing an additional 115 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Elbit Systems Stock Performance

ESLT opened at $230.91 on Thursday. The stock has a market cap of $10.26 billion, a P/E ratio of 41.96 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $203.41 and its 200 day simple moving average is $195.34. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $231.04.

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

Elbit Systems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is presently 30.51%.

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.