Activest Wealth Management Acquires Shares of 62 Elbit Systems Ltd. $ESLT

Activest Wealth Management acquired a new stake in Elbit Systems Ltd. (NASDAQ:ESLT) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 62 shares of the aerospace company’s stock, valued at approximately $28,000.

Several other institutional investors have also recently bought and sold shares of the business. Allianz Asset Management GmbH raised its position in Elbit Systems by 3.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,289 shares of the aerospace company’s stock valued at $1,018,000 after purchasing an additional 83 shares during the last quarter. TD Asset Management Inc raised its position in shares of Elbit Systems by 2.6% during the second quarter. TD Asset Management Inc now owns 10,398 shares of the aerospace company’s stock worth $4,625,000 after acquiring an additional 259 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Elbit Systems by 23.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,848 shares of the aerospace company’s stock worth $831,000 after acquiring an additional 350 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Elbit Systems by 15.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,801 shares of the aerospace company’s stock worth $1,708,000 after acquiring an additional 515 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich bought a new stake in shares of Elbit Systems during the second quarter worth $461,000. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Down 2.1%

Shares of Elbit Systems stock opened at $491.65 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. Elbit Systems Ltd. has a 12 month low of $207.71 and a 12 month high of $529.99. The business has a fifty day simple moving average of $487.80 and a 200 day simple moving average of $442.47. The stock has a market cap of $21.85 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.33.

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

Elbit Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be paid a $0.75 dividend. 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. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. Elbit Systems’s payout ratio is presently 28.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ESLT shares. JPMorgan Chase & Co. started coverage on Elbit Systems in a research report on Tuesday, September 30th. They set a “neutral” rating and a $520.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Elbit Systems in a research report on Wednesday, October 8th. Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, August 26th. Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Wall Street Zen cut Elbit Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $530.00.

About Elbit Systems

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.