Elbit Systems Ltd. (NASDAQ:ESLT) Stock Position Raised by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 35.3% in the 2nd quarter, Holdings Channel reports. The fund owned 21,100 shares of the aerospace company’s stock after buying an additional 5,500 shares during the period. Renaissance Technologies LLC’s holdings in Elbit Systems were worth $3,727,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in Elbit Systems by 368.6% in the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after buying an additional 129 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Elbit Systems by 56.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after buying an additional 84 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in Elbit Systems by 53.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock worth $86,000 after buying an additional 143 shares in the last quarter. Parallel Advisors LLC lifted its position in Elbit Systems by 21.2% in the 4th quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock worth $114,000 after buying an additional 94 shares in the last quarter. Finally, TIAA Trust National Association purchased a new stake in Elbit Systems in the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Down 0.3 %

Elbit Systems stock opened at $195.03 on Monday. The company has a market capitalization of $8.67 billion, a P/E ratio of 38.39 and a beta of 0.54. The firm’s fifty day simple moving average is $193.49 and its 200-day simple moving average is $194.22. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $225.64.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.31. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same quarter last year, the firm earned $1.57 EPS. Sell-side analysts forecast that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be paid a $0.416 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a yield of 0.85%. Elbit Systems’s payout ratio is presently 32.68%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.