Magnetar Financial LLC Makes New Investment in Elbit Systems Ltd. $ESLT

Magnetar Financial LLC purchased a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the 2nd quarter, HoldingsChannel reports. The fund purchased 10,164 shares of the aerospace company’s stock, valued at approximately $4,569,000.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Elbit Systems by 23.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,889 shares of the aerospace company’s stock worth $1,492,000 after buying an additional 749 shares during the period. Amundi raised its holdings in shares of Elbit Systems by 12.4% during the first quarter. Amundi now owns 13,332 shares of the aerospace company’s stock valued at $5,202,000 after acquiring an additional 1,467 shares during the period. Jump Financial LLC purchased a new stake in shares of Elbit Systems in the 1st quarter valued at approximately $3,711,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Elbit Systems by 352.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 32,100 shares of the aerospace company’s stock valued at $14,448,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in Elbit Systems in the 2nd quarter worth approximately $660,000. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $473.71 on Friday. Elbit Systems Ltd. has a fifty-two week low of $243.18 and a fifty-two week high of $529.99. The stock’s 50-day moving average is $491.34 and its two-hundred day moving average is $459.04. 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 firm has a market cap of $21.06 billion, a P/E ratio of 53.77, a PEG ratio of 1.74 and a beta of 0.30.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The firm had revenue of $1.92 billion for 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%. Analysts predict that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, December 22nd. Elbit Systems’s dividend payout ratio (DPR) is 22.87%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ESLT shares. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. 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 report on Tuesday, August 26th. Weiss Ratings raised Elbit Systems from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. started coverage on shares of Elbit Systems in a research report on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $530.00.

Elbit Systems Company 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.