Public Employees Retirement System of Ohio Invests $3.63 Million in Elbit Systems Ltd. $ESLT

Public Employees Retirement System of Ohio acquired a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,789 shares of the aerospace company’s stock, valued at approximately $3,633,000.

Several other large investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in 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 purchasing an additional 1,225 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Elbit Systems during the 1st quarter worth approximately $353,000. NewEdge Advisors LLC raised its stake in shares of Elbit Systems by 3,461.1% during the first quarter. NewEdge Advisors LLC now owns 641 shares of the aerospace company’s stock worth $246,000 after buying an additional 623 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Elbit Systems by 33.7% during the first quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company’s stock worth $51,837,000 after buying an additional 34,049 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 buying an additional 1,191 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 24th. Weiss Ratings lowered Elbit Systems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. JPMorgan Chase & Co. decreased their price objective on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating for the company in a research note on Wednesday, August 19th. Jefferies Financial Group cut their target price on 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, 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 data from MarketBeat, Elbit Systems has a consensus rating of “Hold” and an average target price of $870.00.

Elbit Systems Price Performance

Shares of ESLT stock opened at $701.22 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04. Elbit Systems Ltd. has a 12-month low of $453.00 and a 12-month high of $1,016.06. The firm has a fifty day moving average of $770.93 and a 200-day moving average of $814.14. The firm has a market capitalization of $31.17 billion, a price-to-earnings ratio of 52.84, a price-to-earnings-growth ratio of 2.95 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.69 by $0.45. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%.The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. On average, equities research analysts forecast that Elbit Systems Ltd. will post 15.61 earnings per share for the current year.

Elbit Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Tuesday, October 13th will be paid a dividend of $1.00 per share. 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 is presently 25.09%.

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.