Elbit Systems Ltd. (NASDAQ:ESLT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 31.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 124,022 shares of the aerospace company's stock after selling 57,378 shares during the quarter. Legal & General Group Plc owned about 0.28% of Elbit Systems worth $32,438,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Elbit Systems by 13.1% during the 4th quarter. Invesco Ltd. now owns 338,256 shares of the aerospace company's stock valued at $87,294,000 after buying an additional 39,095 shares during the period. Cerity Partners LLC increased its stake in Elbit Systems by 21.1% during the fourth quarter. Cerity Partners LLC now owns 3,823 shares of the aerospace company's stock worth $950,000 after purchasing an additional 665 shares during the period. Hurley Capital LLC purchased a new stake in Elbit Systems during the 4th quarter worth approximately $26,000. Geode Capital Management LLC increased its position in shares of Elbit Systems by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 38,786 shares of the aerospace company's stock worth $10,010,000 after acquiring an additional 360 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Elbit Systems by 177.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,102 shares of the aerospace company's stock worth $59,207,000 after purchasing an additional 145,324 shares in the last quarter. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Elbit Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 25th.

Elbit Systems Stock Performance

NASDAQ:ESLT traded up $0.58 during trading hours on Wednesday, reaching $405.06. 43,124 shares of the company's stock were exchanged, compared to its average volume of 38,315. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $420.00. The company has a 50-day moving average of $354.81 and a 200 day moving average of $286.87. The firm has a market capitalization of $18.01 billion, a price-to-earnings ratio of 69.24 and a beta of 0.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.71. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. Research analysts anticipate that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Elbit Systems's previous quarterly dividend of $0.50. Elbit Systems's dividend payout ratio is currently 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.