Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,247 shares of the aerospace company's stock after selling 8,359 shares during the quarter. ARK Investment Management LLC owned approximately 0.19% of Elbit Systems worth $16,458,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Quantbot Technologies LP increased its holdings in Elbit Systems by 698.0% during the first quarter. Quantbot Technologies LP now owns 1,213 shares of the aerospace company's stock valued at $255,000 after buying an additional 1,061 shares during the period. Inspire Advisors LLC increased its holdings in Elbit Systems by 9.3% during the first quarter. Inspire Advisors LLC now owns 2,688 shares of the aerospace company's stock valued at $565,000 after buying an additional 229 shares during the period. Russell Investments Group Ltd. increased its holdings in Elbit Systems by 57.5% during the first quarter. Russell Investments Group Ltd. now owns 16,007 shares of the aerospace company's stock valued at $3,356,000 after buying an additional 5,846 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company's stock valued at $49,000 after buying an additional 84 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Elbit Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company's stock valued at $174,597,000 after buying an additional 11,643 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Elbit Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 16th.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT traded down $0.16 on Friday, hitting $229.97. 15,813 shares of the company were exchanged, compared to its average volume of 23,499. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $237.70. The stock's 50 day moving average price is $207.05 and its 200 day moving average price is $196.64. 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 firm has a market capitalization of $10.22 billion, a P/E ratio of 42.30 and a beta of 0.51.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. Sell-side analysts predict that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Elbit Systems Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.416 per share. The ex-dividend date was Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.72%. Elbit Systems's dividend payout ratio is currently 30.51%.

Elbit Systems 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.