Mitsubishi UFJ Trust & Banking Corp Takes $824,000 Position in Elbit Systems Ltd. $ESLT

Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,617 shares of the aerospace company’s stock, valued at approximately $824,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Y.D. More Investments Ltd grew its position in 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 purchasing an additional 158,689 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after buying an additional 134,300 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Elbit Systems by 27.3% during 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 during the last quarter. Meitav Investment House Ltd. increased its position in Elbit Systems by 27.7% in 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Elbit Systems by 74.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company’s stock valued at $78,084,000 after acquiring an additional 74,754 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analysts Set New Price Targets

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

Elbit Systems Trading Down 2.7%

NASDAQ:ESLT opened at $702.57 on Friday. Elbit Systems Ltd. has a 1 year low of $294.99 and a 1 year high of $740.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. The stock has a fifty day moving average price of $594.84 and a two-hundred day moving average price of $520.09. The stock has a market capitalization of $31.23 billion, a price-to-earnings ratio of 71.40, a PEG ratio of 2.19 and a beta of 0.22.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. As a group, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Monday, December 22nd were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, December 22nd. Elbit Systems’s dividend payout ratio is presently 22.87%.

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.