Elbit Systems Ltd. (NASDAQ:ESLT) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 177.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,102 shares of the aerospace company’s stock after purchasing an additional 145,324 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.51% of Elbit Systems worth $59,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Elbit Systems by 57.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,179 shares of the aerospace company’s stock worth $436,000 after buying an additional 796 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Elbit Systems by 22.5% during the third quarter. Cerity Partners LLC now owns 3,158 shares of the aerospace company’s stock valued at $632,000 after acquiring an additional 579 shares during the period. Bank of Montreal Can grew its position in Elbit Systems by 1.7% in the 3rd quarter. Bank of Montreal Can now owns 10,351 shares of the aerospace company’s stock worth $2,071,000 after purchasing an additional 169 shares during the last quarter. BNP Paribas Financial Markets increased its position in Elbit Systems by 99.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock valued at $678,000 after acquiring an additional 1,690 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of Elbit Systems by 22.8% during the third quarter. Public Sector Pension Investment Board now owns 13,767 shares of the aerospace company’s stock valued at $2,742,000 after purchasing an additional 2,556 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $387.36 on Wednesday. The stock has a market cap of $17.22 billion, a PE ratio of 66.22 and a beta of 0.53. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $420.00. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $334.52 and a 200-day simple moving average of $271.78.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. This is an increase from Elbit Systems’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 annualized dividend and a dividend yield of 0.62%. Elbit Systems’s payout ratio is presently 27.72%.

About Elbit Systems

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.