Navellier & Associates Inc. Sells 674 Shares of Elbit Systems Ltd. $ESLT

Navellier & Associates Inc. cut its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,553 shares of the aerospace company’s stock after selling 674 shares during the period. Elbit Systems makes up approximately 0.9% of Navellier & Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Navellier & Associates Inc.’s holdings in Elbit Systems were worth $8,407,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in Elbit Systems during the fourth quarter worth approximately $26,000. Wexford Capital LP acquired a new stake in Elbit Systems during the third quarter worth approximately $63,000. Montag A & Associates Inc. grew its position in Elbit Systems by 27.8% during the third quarter. Montag A & Associates Inc. now owns 193 shares of the aerospace company’s stock worth $98,000 after buying an additional 42 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Elbit Systems by 24.4% during the third quarter. Smartleaf Asset Management LLC now owns 194 shares of the aerospace company’s stock worth $97,000 after buying an additional 38 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in Elbit Systems by 99.0% during the fourth quarter. Spire Wealth Management now owns 197 shares of the aerospace company’s stock worth $114,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

ESLT has been the subject of several recent analyst reports. Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. increased their price target on Elbit Systems from $580.00 to $930.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Finally, Zacks Research upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Elbit Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $667.00.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $851.26 on Wednesday. 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 business has a 50-day moving average price of $872.83 and a two-hundred day moving average price of $680.97. The company has a market cap of $37.84 billion, a P/E ratio of 74.93, a PEG ratio of 3.60 and a beta of 0.14. Elbit Systems Ltd. has a 1-year low of $369.60 and a 1-year high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, March 17th. The aerospace company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.23 by $0.33. Elbit Systems had a return on equity of 15.53% and a net margin of 6.73%.The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.09 billion. As a group, analysts anticipate that Elbit Systems Ltd. will post 15.47 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 27th. Investors of record on Monday, April 13th were issued a $1.00 dividend. This is a boost from Elbit Systems’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, April 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.5%. Elbit Systems’s payout ratio is presently 29.31%.

Insider Buying and Selling

In related news, EVP Ran Kril sold 6,803 shares of Elbit Systems stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,036,982.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Oren Yaacov Sabag sold 8,504 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 $7,546,449.60. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,736 shares of company stock worth $61,883,726 in the last three months. Insiders own 0.84% of the company’s stock.

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.