Sumitomo Mitsui Trust Group Inc. Sells 2,648 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 6.2% in the third quarter, HoldingsChannel reports. The firm owned 40,039 shares of the aerospace company’s stock after selling 2,648 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Elbit Systems were worth $8,012,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Elbit Systems by 368.6% in the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 129 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Elbit Systems in the second quarter valued at about $35,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Elbit Systems by 56.8% in the first 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Elbit Systems in the second quarter valued at about $143,000. Finally, TIAA Trust National Association purchased a new position in Elbit Systems in the first quarter valued at about $201,000. 17.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th.

Elbit Systems Stock Down 0.7 %

ESLT opened at $235.14 on Tuesday. The stock has a market cap of $10.45 billion, a price-to-earnings ratio of 43.22 and a beta of 0.51. 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 company’s 50-day moving average price is $211.94 and its two-hundred day moving average price is $198.27. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $241.30.

Elbit Systems 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.