Point72 Asset Management L.P. Has $830,000 Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Point72 Asset Management L.P. grew its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 123.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,700 shares of the aerospace company’s stock after acquiring an additional 2,600 shares during the period. Point72 Asset Management L.P.’s holdings in Elbit Systems were worth $830,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Y.D. More Investments Ltd lifted its stake in Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after acquiring an additional 402,512 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Elbit Systems in the first quarter worth $10,893,000. Meitav Investment House Ltd. increased its position in Elbit Systems by 13.2% during the second quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock worth $42,117,000 after buying an additional 27,851 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Elbit Systems by 34.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after buying an additional 24,484 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Elbit Systems by 253.0% in the second quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock worth $5,158,000 after buying an additional 20,932 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th.

Elbit Systems Price Performance

Shares of Elbit Systems stock opened at $201.10 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $194.47 and a 200-day simple moving average of $194.31. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 39.70 and a beta of 0.53. 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 earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. The firm had revenue of $1.63 billion during 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 in the previous year, the business earned $1.57 EPS. On average, sell-side analysts expect that Elbit Systems Ltd. will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is currently 32.68%.

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.