Elbit Systems Ltd. $ESLT Shares Sold by Cardinal Capital Management

Cardinal Capital Management cut its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 33.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,772 shares of the aerospace company’s stock after selling 3,935 shares during the quarter. Cardinal Capital Management’s holdings in Elbit Systems were worth $3,498,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of Elbit Systems by 8.6% in the 1st quarter. National Bank of Canada FI now owns 393 shares of the aerospace company’s stock valued at $151,000 after purchasing an additional 31 shares during the period. Townsquare Capital LLC boosted its holdings in shares of Elbit Systems by 5.3% in the first quarter. Townsquare Capital LLC now owns 878 shares of the aerospace company’s stock valued at $337,000 after acquiring an additional 44 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Elbit Systems by 3.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,498 shares of the aerospace company’s stock valued at $575,000 after acquiring an additional 55 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Elbit Systems by 1.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock worth $1,031,000 after purchasing an additional 69 shares during the period. Finally, Larson Financial Group LLC acquired a new stake in Elbit Systems during the 1st quarter worth $29,000. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Trading Up 2.3%

NASDAQ ESLT opened at $498.97 on Tuesday. Elbit Systems Ltd. has a 12 month low of $190.78 and a 12 month high of $510.58. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77. The company has a 50-day moving average of $469.59 and a 200-day moving average of $427.95. The company has a market cap of $22.18 billion, a P/E ratio of 56.64, a P/E/G ratio of 1.73 and a beta of 0.37.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.57 by $0.66. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, equities analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Tuesday, October 14th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.60. Elbit Systems’s dividend payout ratio (DPR) is 22.70%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Bank of America increased their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $540.00.

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.