Pinpoint Asset Management Singapore Pte. Ltd. Makes New Investment in Elbit Systems Ltd. $ESLT

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,760 shares of the aerospace company’s stock, valued at approximately $791,000.

A number of other hedge funds also recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Elbit Systems by 0.3% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company’s stock valued at $520,189,000 after purchasing an additional 4,248 shares during the period. Vanguard Group Inc. grew its stake in Elbit Systems by 1.8% in the first quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company’s stock valued at $341,276,000 after purchasing an additional 15,552 shares in the last quarter. Y.D. More Investments Ltd increased its position in shares of Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after purchasing an additional 158,689 shares during the last quarter. Meitav Investment House Ltd. raised its stake in shares of Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock worth $168,600,000 after purchasing an additional 82,103 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Elbit Systems by 226.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock valued at $87,006,000 after buying an additional 134,300 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analyst Ratings Changes

ESLT has been the topic of a number of recent analyst reports. Bank of America boosted their target price on shares of Elbit Systems from $500.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings raised shares of Elbit Systems from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, November 19th. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. JPMorgan Chase & Co. initiated coverage on shares of Elbit Systems in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $520.00 target price for the company. Finally, Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $530.00.

Elbit Systems Price Performance

NASDAQ:ESLT opened at $466.17 on Wednesday. The company has a market cap of $20.72 billion, a P/E ratio of 52.91, a P/E/G ratio of 1.74 and a beta of 0.30. The firm’s fifty day moving average price is $489.90 and its two-hundred day moving average price is $460.48. Elbit Systems Ltd. has a one year low of $243.18 and a one year high of $529.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.77.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.75 by $0.60. Elbit Systems had a net margin of 5.35% and a return on equity of 14.29%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. Equities analysts expect that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

Elbit Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.75 per share. The ex-dividend date 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 (DPR) is 22.87%.

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.