Quantbot Technologies LP Decreases Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Quantbot Technologies LP reduced its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 30.2% in the third quarter, Holdings Channel.com reports. The fund owned 1,624 shares of the aerospace company’s stock after selling 703 shares during the period. Quantbot Technologies LP’s holdings in Elbit Systems were worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Spectrum Asset Management Inc. NB CA purchased a new position in Elbit Systems in the 3rd quarter worth approximately $762,000. Cetera Advisors LLC purchased a new position in Elbit Systems in the 1st quarter worth approximately $1,966,000. Marshall Wace LLP purchased a new stake in Elbit Systems during the 2nd quarter valued at $2,181,000. Meitav Investment House Ltd. raised its stake in Elbit Systems by 41.3% during the 3rd quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after buying an additional 98,440 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Elbit Systems by 35.3% during the 2nd quarter. Renaissance Technologies LLC now owns 21,100 shares of the aerospace company’s stock valued at $3,727,000 after buying an additional 5,500 shares during the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Elbit Systems Price Performance

Shares of ESLT opened at $247.52 on Thursday. The firm has a market cap of $11.00 billion, a PE ratio of 42.41 and a beta of 0.52. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $223.77 and a two-hundred day simple moving average of $201.99. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $255.02.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Monday, December 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.81%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 23rd. Elbit Systems’s dividend payout ratio is 28.38%.

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.