Elbit Systems Ltd. $ESLT Shares Purchased by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 206.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 269,599 shares of the aerospace company’s stock after buying an additional 181,524 shares during the quarter. Elbit Systems accounts for approximately 1.6% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 19th largest holding. Harel Insurance Investments & Financial Services Ltd. owned 0.61% of Elbit Systems worth $228,914,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ESLT. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Elbit Systems by 34.4% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock valued at $893,941,000 after purchasing an additional 397,049 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Elbit Systems during the 3rd quarter worth approximately $172,673,000. Bank of America Corp DE lifted its stake in Elbit Systems by 125.0% in the 3rd quarter. Bank of America Corp DE now owns 166,434 shares of the aerospace company’s stock valued at $84,848,000 after buying an additional 92,449 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Elbit Systems by 44.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,274 shares of the aerospace company’s stock valued at $128,573,000 after buying an additional 77,741 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Elbit Systems by 7,402.4% during the 3rd quarter. Franklin Resources Inc. now owns 53,492 shares of the aerospace company’s stock valued at $27,269,000 after buying an additional 52,779 shares during the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ESLT has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Jefferies Financial Group decreased their price target on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating on the stock in a research note on Wednesday, June 24th. Finally, Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Elbit Systems currently has an average rating of “Hold” and a consensus price target of $725.25.

Elbit Systems Stock Up 0.1%

Shares of NASDAQ:ESLT opened at $736.30 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.86 and a current ratio of 1.41. Elbit Systems Ltd. has a 1 year low of $422.84 and a 1 year high of $1,016.06. The stock has a market capitalization of $32.73 billion, a P/E ratio of 59.62, a PEG ratio of 3.12 and a beta of 0.17. The stock has a 50-day simple moving average of $796.24 and a 200-day simple moving average of $788.04.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. Equities analysts forecast that Elbit Systems Ltd. will post 15.3 earnings per share for the current year.

Elbit Systems Announces Dividend

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

About Elbit Systems

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.