Mirae Asset Global Investments Co. Ltd. Takes Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,293 shares of the aerospace company's stock, valued at approximately $590,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Coastline Trust Co acquired a new stake in shares of Elbit Systems in the third quarter valued at approximately $34,000. Morse Asset Management Inc acquired a new stake in shares of Elbit Systems during the third quarter worth $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Elbit Systems during the third quarter worth $63,000. Avior Wealth Management LLC lifted its holdings in shares of Elbit Systems by 49.1% during the third quarter. Avior Wealth Management LLC now owns 480 shares of the aerospace company's stock worth $96,000 after purchasing an additional 158 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Elbit Systems by 461.0% during the third quarter. Blue Trust Inc. now owns 920 shares of the aerospace company's stock worth $184,000 after purchasing an additional 756 shares during the period. 17.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Elbit Systems from a "buy" rating to a "strong-buy" rating in a report on Wednesday, November 20th.

Elbit Systems Stock Performance

Shares of NASDAQ ESLT traded up $0.64 during mid-day trading on Friday, hitting $296.98. 24,692 shares of the company were exchanged, compared to its average volume of 37,984. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $280.35 and a 200-day simple moving average of $236.44. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $313.89. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 50.77 and a beta of 0.53.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Monday, December 23rd were given a $0.50 dividend. This is a boost from Elbit Systems's previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 23rd. This represents a $2.00 annualized dividend and a yield of 0.67%. Elbit Systems's dividend payout ratio is presently 28.38%.

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.