Prestige Wealth Management Group LLC Grows Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Prestige Wealth Management Group LLC lifted its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 150.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 125 shares of the aerospace company’s stock after acquiring an additional 75 shares during the period. Prestige Wealth Management Group LLC’s holdings in Elbit Systems were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Elbit Systems by 99.4% during the third quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock valued at $678,000 after buying an additional 1,690 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Elbit Systems by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after acquiring an additional 18,614 shares in the last quarter. Stifel Financial Corp grew its position in shares of Elbit Systems by 50.3% during the 3rd quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock valued at $2,107,000 after acquiring an additional 3,524 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock valued at $11,817,000 after purchasing an additional 2,317 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in Elbit Systems by 12.1% in the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company’s stock worth $14,872,000 after purchasing an additional 8,000 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

NASDAQ:ESLT opened at $405.01 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The stock has a market capitalization of $18.00 billion, a PE ratio of 69.23 and a beta of 0.53. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $420.00. The company has a fifty day moving average of $325.46 and a two-hundred day moving average of $265.04.

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

Elbit Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a $0.60 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is presently 27.72%.

Elbit Systems Company Profile

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.