Elbit Systems Ltd. (NASDAQ:ESLT) Shares Bought by Cardinal Capital Management

Cardinal Capital Management grew its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,254 shares of the aerospace company’s stock after purchasing an additional 136 shares during the period. Cardinal Capital Management’s holdings in Elbit Systems were worth $2,852,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ESLT. Y.D. More Investments Ltd lifted its position in Elbit Systems by 32,724.6% during the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after buying an additional 402,512 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Elbit Systems during the 1st quarter worth $10,893,000. Meitav Investment House Ltd. increased its holdings in Elbit Systems by 13.2% in the 2nd quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock valued at $42,117,000 after purchasing an additional 27,851 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Elbit Systems by 34.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after purchasing an additional 24,484 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Elbit Systems by 253.0% during the second quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock worth $5,158,000 after purchasing an additional 20,932 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th.

Elbit Systems Trading Up 1.2 %

NASDAQ ESLT opened at $212.25 on Friday. Elbit Systems Ltd. has a 52 week low of $175.30 and a 52 week high of $225.64. The stock has a market cap of $9.44 billion, a P/E ratio of 41.78 and a beta of 0.53. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $199.80 and its 200-day simple moving average is $194.55.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.31. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period in the previous year, the business earned $1.57 EPS. Equities research analysts predict that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.416 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 annualized dividend and a dividend yield of 0.78%. Elbit Systems’s payout ratio is 32.68%.

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.