769 Shares in Elbit Systems Ltd. $ESLT Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 769 shares of the aerospace company’s stock, valued at approximately $444,000.

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

Insider Transactions at Elbit Systems

In related news, CEO Bezhalel Machlis sold 25,514 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $22,641,123.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Oren Yaacov Sabag sold 8,504 shares of Elbit Systems stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total value of $7,546,449.60. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 69,736 shares of company stock valued at $61,883,726. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Down 1.3%

Shares of NASDAQ ESLT opened at $880.89 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $852.20 and its 200 day simple moving average is $719.73. Elbit Systems Ltd. has a 12-month low of $394.00 and a 12-month high of $1,016.06. The company has a market cap of $39.16 billion, a price-to-earnings ratio of 71.33, a price-to-earnings-growth ratio of 3.66 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share 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 firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.14 billion. On average, research analysts expect that Elbit Systems Ltd. will post 15.94 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

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