Sumitomo Mitsui Trust Group Inc. Sells 2,840 Shares of Elbit Systems Ltd. $ESLT

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,986 shares of the aerospace company’s stock after selling 2,840 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Elbit Systems were worth $11,546,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Greenleaf Trust raised its holdings in Elbit Systems by 7.1% during the 4th quarter. Greenleaf Trust now owns 466 shares of the aerospace company’s stock worth $269,000 after purchasing an additional 31 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Elbit Systems by 3.0% during the 4th quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company’s stock valued at $356,345,000 after purchasing an additional 18,289 shares during the period. Signaturefd LLC boosted its stake in shares of Elbit Systems by 10.0% in the 4th quarter. Signaturefd LLC now owns 1,830 shares of the aerospace company’s stock valued at $1,057,000 after purchasing an additional 167 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Elbit Systems by 99.0% in the 4th quarter. Spire Wealth Management now owns 197 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 98 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Elbit Systems during the 4th quarter worth approximately $26,000. Institutional investors own 17.88% of the company’s stock.

Insider Activity at Elbit Systems

In other news, EVP Jonathan Ariel sold 7,654 shares of Elbit Systems stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Haim Daniel Delmar sold 7,654 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total transaction of $6,792,159.60. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 69,736 shares of company stock valued at $61,883,726. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ESLT shares. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research note on Monday, December 29th. Zacks Research raised shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Elbit Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $667.00.

Elbit Systems Price Performance

Elbit Systems stock opened at $872.58 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $38.79 billion, a P/E ratio of 76.81, a PEG ratio of 3.65 and a beta of 0.16. The business has a 50-day moving average of $841.97 and a 200-day moving average of $655.58. Elbit Systems Ltd. has a 1 year low of $369.00 and a 1 year high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Tuesday, March 17th. The aerospace company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.33. Elbit Systems had a net margin of 6.73% and a return on equity of 15.53%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, equities analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, April 13th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 0.5%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 13th. Elbit Systems’s dividend payout ratio (DPR) is 29.31%.

Elbit Systems Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.