3,298 Elbit Systems Ltd. $ESLT Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 16.6% during the 3rd quarter, Holdings Channel reports. The firm owned 16,581 shares of the aerospace company’s stock after selling 3,298 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Elbit Systems were worth $11,308,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. WPG Advisers LLC bought a new position in shares of Elbit Systems during the first quarter worth $26,000. Grove Bank & Trust grew its position in shares of Elbit Systems by 100.0% during the third quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 25 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Elbit Systems during the 3rd quarter valued at approximately $35,000. Optiver Holding B.V. bought a new stake in Elbit Systems in the 1st quarter worth approximately $46,000. Finally, IFP Advisors Inc raised its holdings in shares of Elbit Systems by 225.0% during the 2nd quarter. IFP Advisors Inc now owns 65 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Trading Up 4.8%

Shares of ESLT traded up $31.28 during trading hours on Friday, reaching $682.59. 67,408 shares of the company traded hands, compared to its average volume of 104,268. The stock’s fifty day moving average price is $721.87 and its 200 day moving average price is $783.95. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.04. The firm has a market cap of $30.34 billion, a price-to-earnings ratio of 51.44, a PEG ratio of 3.01 and a beta of 0.09. Elbit Systems Ltd. has a 12-month low of $453.00 and a 12-month high of $1,016.06.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.45. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.25 billion. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. Sell-side analysts forecast that Elbit Systems Ltd. will post 16.02 earnings per share for the current year.

Elbit Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Tuesday, October 13th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, October 13th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. Elbit Systems’s dividend payout ratio (DPR) is 25.09%.

Analyst Upgrades and Downgrades

ESLT has been the subject of a number of recent research reports. Morgan Stanley set a $850.00 price objective on shares of Elbit Systems in a research note on Friday, October 16th. Jefferies Financial Group dropped their price target on Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a research report on Monday, October 5th. JPMorgan Chase & Co. decreased their price objective on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 19th. Weiss Ratings upgraded Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Elbit Systems presently has a consensus rating of “Hold” and a consensus price target of $841.67.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense technology company headquartered in Haifa. Founded in 1966, it develops and supplies electronic systems and related services for military and security customers.

Its products include aircraft and helicopter systems, unmanned aircraft, electro-optical equipment, communications and command-and-control systems, electronic warfare and intelligence solutions, and land and naval systems. The company also provides training and simulation, maintenance, and modernization services.

Elbit Systems serves customers in Israel and internationally, with operations and subsidiaries in multiple countries.