Virtu Financial LLC Makes New $592,000 Investment in Elbit Systems Ltd. (NASDAQ:ESLT)

Virtu Financial LLC acquired a new stake in Elbit Systems Ltd. (NASDAQ:ESLT) during the fourth quarter, Holdings Channel.com reports. The firm acquired 2,294 shares of the aerospace company’s stock, valued at approximately $592,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ESLT. Signaturefd LLC increased its holdings in Elbit Systems by 10.2% in the fourth quarter. Signaturefd LLC now owns 1,239 shares of the aerospace company’s stock worth $320,000 after purchasing an additional 115 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Elbit Systems during the 4th quarter worth approximately $235,000. HighTower Advisors LLC lifted its position in shares of Elbit Systems by 130.3% during the 4th quarter. HighTower Advisors LLC now owns 3,072 shares of the aerospace company’s stock valued at $799,000 after acquiring an additional 1,738 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Elbit Systems by 73.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,185 shares of the aerospace company’s stock worth $1,618,000 after acquiring an additional 2,627 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Elbit Systems by 4.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,186 shares of the aerospace company’s stock worth $1,596,000 after purchasing an additional 245 shares during the period. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Up 2.4 %

Shares of NASDAQ:ESLT opened at $405.01 on Wednesday. The firm has a market cap of $18.00 billion, a P/E ratio of 69.23 and a beta of 0.53. Elbit Systems Ltd. has a 52-week low of $175.30 and a 52-week high of $420.00. The business’s 50 day simple moving average is $325.46 and its two-hundred day simple moving average is $265.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.71. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal 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 $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio is currently 27.72%.

Analyst Upgrades and Downgrades

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

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.