Envestnet Asset Management Inc. Sells 330 Shares of Elbit Systems Ltd. $ESLT

Envestnet Asset Management Inc. lessened its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,707 shares of the aerospace company’s stock after selling 330 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Elbit Systems were worth $1,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new stake in Elbit Systems in the second quarter worth $360,000. Phoenix Financial Ltd. bought a new position in shares of Elbit Systems during the 2nd quarter worth $11,250,000. Activest Wealth Management bought a new stake in Elbit Systems in the 2nd quarter valued at about $28,000. Allianz Asset Management GmbH raised its stake 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 acquiring an additional 83 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Elbit Systems by 2.6% during the second quarter. TD Asset Management Inc now owns 10,398 shares of the aerospace company’s stock valued at $4,625,000 after purchasing an additional 259 shares during the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Price Performance

Elbit Systems stock opened at $481.33 on Thursday. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 54.63, a PEG ratio of 1.74 and a beta of 0.30. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $492.80 and a 200 day simple moving average of $458.49. Elbit Systems Ltd. has a 52 week low of $243.18 and a 52 week high of $529.99.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $0.60. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%. On average, research analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio is presently 28.26%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ESLT. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Elbit Systems in a report on Wednesday, October 8th. Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Bank of America lifted their price target on Elbit Systems from $500.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. started coverage on Elbit Systems in a research note on Tuesday, September 30th. They set a “neutral” rating and a $520.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elbit Systems currently has an average rating of “Hold” and an average price target 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.