Tower Research Capital LLC TRC lowered its holdings in Elbit Systems Ltd (NASDAQ:ESLT) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 555 shares of the aerospace company’s stock after selling 152 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Elbit Systems were worth $71,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new position in Elbit Systems in the first quarter worth $1,061,000. Parametric Portfolio Associates LLC boosted its stake in Elbit Systems by 6.6% in the first quarter. Parametric Portfolio Associates LLC now owns 88,040 shares of the aerospace company’s stock worth $11,242,000 after purchasing an additional 5,454 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Elbit Systems by 9.0% during the fourth quarter. Citigroup Inc. now owns 16,797 shares of the aerospace company’s stock valued at $2,615,000 after acquiring an additional 1,385 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Elbit Systems during the first quarter valued at $101,000. Finally, Bank of America Corp DE lifted its stake in shares of Elbit Systems by 30.7% during the fourth quarter. Bank of America Corp DE now owns 19,432 shares of the aerospace company’s stock valued at $3,013,000 after acquiring an additional 4,569 shares during the period. 10.16% of the stock is currently owned by institutional investors.
ESLT has been the topic of several research reports. ValuEngine raised Elbit Systems from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. TheStreet lowered Elbit Systems from a “b-” rating to a “c+” rating in a research note on Wednesday, March 25th. BidaskClub lowered Elbit Systems from a “hold” rating to a “sell” rating in a research note on Friday, June 26th. Finally, Zacks Investment Research lowered Elbit Systems from a “hold” rating to a “sell” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $166.50.
Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, May 26th. The aerospace company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.12). The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Elbit Systems had a net margin of 5.29% and a return on equity of 14.05%. As a group, sell-side analysts predict that Elbit Systems Ltd will post 7.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.05%.
About Elbit Systems
Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; munitions; command, control, communications, computer, intelligence, surveillance, and reconnaissance and cyber systems; electronic warfare and signal intelligence systems; and commercial cyber security products.
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