Public Employees Retirement System of Ohio Makes New Investment in Elbit Systems Ltd. $ESLT

Public Employees Retirement System of Ohio purchased a new stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) in the 2nd quarter, Holdings Channel reports. The fund purchased 4,789 shares of the aerospace company’s stock, valued at approximately $3,633,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Elbit Systems by 98.9% during the first quarter. Royal Bank of Canada now owns 2,464 shares of the aerospace company’s stock worth $946,000 after purchasing an additional 1,225 shares during the period. AQR Capital Management LLC bought a new stake in Elbit Systems in the 1st quarter valued at $353,000. NewEdge Advisors LLC raised its stake in Elbit Systems by 3,461.1% in the 1st quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock valued at $246,000 after acquiring an additional 623 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Elbit Systems by 33.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock valued at $51,837,000 after purchasing an additional 34,049 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Elbit Systems by 7.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 16,521 shares of the aerospace company’s stock valued at $6,339,000 after purchasing an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 26th. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lowered their target price on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 19th. Jefferies Financial Group reduced their price target on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday, June 24th. Finally, Morgan Stanley set a $845.00 target price on Elbit Systems in a report on Wednesday, July 15th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $870.00.

Elbit Systems Stock Down 1.1%

ESLT stock opened at $701.22 on Friday. Elbit Systems Ltd. has a 52 week low of $453.00 and a 52 week high of $1,016.06. The business has a 50-day simple moving average of $770.93 and a 200 day simple moving average of $814.14. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a market cap of $31.17 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.45. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. Sell-side analysts anticipate that Elbit Systems Ltd. will post 15.61 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, October 13th. Elbit Systems’s dividend payout ratio (DPR) is 25.09%.

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.