Systematic Financial Management LP Has $11.72 Million Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Systematic Financial Management LP lowered its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 4.5% in the second quarter, HoldingsChannel.com reports. The firm owned 66,322 shares of the aerospace company’s stock after selling 3,135 shares during the quarter. Systematic Financial Management LP’s holdings in Elbit Systems were worth $11,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in shares of Elbit Systems by 4.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 56 shares during the period. TD Asset Management Inc raised its holdings in Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock valued at $1,545,000 after acquiring an additional 73 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings 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 valued at $49,000 after acquiring an additional 84 shares during the period. Parallel Advisors LLC raised its holdings in Elbit Systems by 21.2% in the 4th quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock valued at $114,000 after acquiring an additional 94 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Elbit Systems by 8.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,284 shares of the aerospace company’s stock valued at $270,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT opened at $195.03 on Monday. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The firm has a market cap of $8.67 billion, a PE ratio of 38.39 and a beta of 0.54. The company’s 50 day moving average price is $193.49 and its two-hundred day moving average price is $194.22. Elbit Systems Ltd. has a 12-month low of $175.30 and a 12-month high of $225.64.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.31. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates 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 business posted $1.57 EPS. Equities research analysts predict that Elbit Systems Ltd. will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com raised 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.