Intech Investment Management LLC Sells 2,106 Shares of Elbit Systems Ltd. $ESLT

Intech Investment Management LLC reduced its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 38.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,391 shares of the aerospace company’s stock after selling 2,106 shares during the quarter. Intech Investment Management LLC’s holdings in Elbit Systems were worth $1,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Flputnam Investment Management Co. bought a new position in shares of Elbit Systems during the fourth quarter valued at about $226,000. Cary Street Partners Financial LLC bought a new position in shares of Elbit Systems during the fourth quarter valued at about $444,000. Legal & General Group Plc grew its stake in shares of Elbit Systems by 6.9% during the fourth quarter. Legal & General Group Plc now owns 119,538 shares of the aerospace company’s stock valued at $68,865,000 after buying an additional 7,666 shares during the last quarter. Plan A Wealth LLC bought a new position in shares of Elbit Systems during the fourth quarter valued at about $218,000. Finally, Leonteq Securities AG purchased a new stake in shares of Elbit Systems during the fourth quarter worth about $68,000. 17.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elbit Systems news, EVP Oren Yaacov Sabag sold 8,504 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $7,546,449.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,736 shares of company stock valued at $61,883,726 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ESLT has been the subject of a number of analyst reports. Zacks Research upgraded shares of Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, April 13th. JPMorgan Chase & Co. increased their target price on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $950.00 target price on shares of Elbit Systems in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $742.75.

Elbit Systems Stock Performance

Elbit Systems stock opened at $829.81 on Thursday. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $847.35 and a 200-day moving average of $729.10. The firm has a market cap of $36.89 billion, a P/E ratio of 67.19, a P/E/G ratio of 3.46 and a beta of 0.14. Elbit Systems Ltd. has a 1-year low of $407.76 and a 1-year high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 EPS for the quarter, topping the consensus estimate of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.14 billion. Sell-side analysts expect that Elbit Systems Ltd. will post 15.94 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Tuesday, June 23rd will be issued a $1.00 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $4.00 annualized dividend and a yield of 0.5%. Elbit Systems’s dividend payout ratio (DPR) is 26.96%.

Elbit Systems Company 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.