Elbit Systems Ltd. (NASDAQ:ESLT) Stake Raised by Cardinal Capital Management

Cardinal Capital Management boosted its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 7.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 13,874 shares of the aerospace company’s stock after purchasing an additional 910 shares during the quarter. Cardinal Capital Management’s holdings in Elbit Systems were worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Elbit Systems by 61.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 272 shares of the aerospace company’s stock worth $58,000 after buying an additional 104 shares during the period. Janiczek Wealth Management LLC increased its holdings in shares of Elbit Systems by 53.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 143 shares during the period. Lee Financial Co acquired a new position in shares of Elbit Systems in the 4th quarter valued at about $107,000. Parallel Advisors LLC increased its holdings in shares of Elbit Systems by 21.2% in the 4th quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock valued at $114,000 after purchasing an additional 94 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in shares of Elbit Systems by 12.2% in the 4th quarter. Quadrant Capital Group LLC now owns 624 shares of the aerospace company’s stock valued at $133,000 after purchasing an additional 68 shares during the period. 17.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded Elbit Systems from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 29th.

Elbit Systems Stock Down 1.2 %

Shares of ESLT traded down $2.12 during trading hours on Thursday, reaching $176.25. The company’s stock had a trading volume of 66,553 shares, compared to its average volume of 23,239. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 34.62 and a beta of 0.55. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $225.64. The company has a quick ratio of 0.66, a current ratio of 1.16 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $193.78 and a two-hundred day moving average of $203.01.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.49 billion. Elbit Systems had a return on equity of 10.14% and a net margin of 3.70%. During the same quarter in the prior year, the company earned $1.70 EPS. As a group, research analysts predict that Elbit Systems Ltd. will post 7.45 EPS for the current fiscal year.

Elbit Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Tuesday, June 18th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $2.00 annualized dividend and a dividend yield of 1.13%. 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.