Townsquare Capital LLC Buys New Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Townsquare Capital LLC purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 834 shares of the aerospace company’s stock, valued at approximately $215,000.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Elbit Systems during the fourth quarter valued at $1,999,000. Renaissance Technologies LLC lifted its position in shares of Elbit Systems by 7.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,700 shares of the aerospace company’s stock valued at $1,471,000 after buying an additional 400 shares in the last quarter. FIL Ltd bought a new position in shares of Elbit Systems during the 4th quarter valued at approximately $4,616,000. Invesco Ltd. grew its stake in shares of Elbit Systems by 13.1% during the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company’s stock valued at $87,294,000 after acquiring an additional 39,095 shares during the period. Finally, Cerity Partners LLC increased its holdings in Elbit Systems by 21.1% in the 4th quarter. Cerity Partners LLC now owns 3,823 shares of the aerospace company’s stock worth $950,000 after acquiring an additional 665 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Elbit Systems Trading Down 2.2 %

Shares of ESLT stock opened at $376.71 on Wednesday. The stock has a fifty day simple moving average of $364.29 and a two-hundred day simple moving average of $293.62. Elbit Systems Ltd. has a 52-week low of $175.30 and a 52-week high of $420.00. The firm has a market capitalization of $16.75 billion, a PE ratio of 64.39 and a beta of 0.32. 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, beating the consensus estimate of $1.95 by $0.71. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. On average, analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.60 dividend. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Tuesday, April 22nd. Elbit Systems’s payout ratio is currently 27.72%.

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.