Eos Management L.P. Invests $2.59 Million in Elbit Systems Ltd. $ESLT

Eos Management L.P. bought a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,073 shares of the aerospace company’s stock, valued at approximately $2,586,000. Elbit Systems comprises 1.0% of Eos Management L.P.’s portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also modified their holdings of ESLT. Y.D. More Investments Ltd boosted its stake in shares of Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after acquiring an additional 158,689 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Elbit Systems by 27.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock worth $210,967,000 after buying an additional 101,083 shares in the last quarter. Meitav Investment House Ltd. grew its stake in Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company’s stock valued at $168,600,000 after acquiring an additional 82,103 shares in the last quarter. Invesco Ltd. raised its holdings in Elbit Systems by 2.5% in the 2nd quarter. Invesco Ltd. now owns 337,292 shares of the aerospace company’s stock valued at $151,613,000 after acquiring an additional 8,310 shares during the last quarter. Finally, Heard Capital LLC lifted its stake in Elbit Systems by 1.4% in the 2nd quarter. Heard Capital LLC now owns 195,398 shares of the aerospace company’s stock worth $87,831,000 after purchasing an additional 2,627 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $730.83 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $585.20 and its 200 day moving average price is $516.43. Elbit Systems Ltd. has a 52-week low of $294.99 and a 52-week high of $740.67. The stock has a market capitalization of $32.49 billion, a PE ratio of 74.27, a price-to-earnings-growth ratio of 2.22 and a beta of 0.22.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. As a group, equities research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 22nd were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 22nd. Elbit Systems’s dividend payout ratio (DPR) is currently 22.87%.

Wall Street Analyst Weigh In

ESLT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Morgan Stanley started coverage on Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Zacks Research downgraded shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $550.33.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.