Mezzasalma Advisors LLC Acquires 864 Shares of Elbit Systems Ltd. $ESLT

Mezzasalma Advisors LLC boosted its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 30.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,740 shares of the aerospace company’s stock after acquiring an additional 864 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Elbit Systems were worth $2,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. WPG Advisers LLC purchased a new position in shares of Elbit Systems during the first quarter worth about $26,000. Grove Bank & Trust increased its position in shares of Elbit Systems by 100.0% in the third quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 25 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Elbit Systems in the first quarter valued at approximately $46,000. IFP Advisors Inc raised its stake in Elbit Systems by 225.0% in the second quarter. IFP Advisors Inc now owns 65 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 45 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in Elbit Systems in the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

ESLT has been the subject of several research analyst reports. Jefferies Financial Group dropped their target price on shares of Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a research report on Monday, October 5th. Morgan Stanley set a $845.00 price target on shares of Elbit Systems in a report on Wednesday, July 15th. JPMorgan Chase & Co. lowered their price objective on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Weiss Ratings raised shares of Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $840.00.

Elbit Systems Price Performance

Shares of Elbit Systems stock traded up $33.71 during trading on Wednesday, hitting $701.38. 163,103 shares of the stock traded hands, compared to its average volume of 121,533. 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 stock has a market cap of $31.18 billion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.68 and a beta of 0.13. The firm’s fifty day moving average is $733.15 and its 200-day moving average is $788.47. Elbit Systems Ltd. has a 52 week low of $453.00 and a 52 week high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.45. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. Research analysts expect that Elbit Systems Ltd. will post 15.86 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

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

About Elbit Systems

Elbit Systems Ltd. is an Israel-based international defense technology company that develops and supplies integrated solutions for military, homeland security, and commercial aviation customers. Its offerings support airborne, land, naval, and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) applications.

The company’s products and services include unmanned aircraft systems, electro-optical and night-vision systems, electronic warfare and signals intelligence solutions, communications equipment, tactical radios, artillery and precision munitions, armored vehicle systems, and military training and simulation technologies.