Frank Rimerman Advisors LLC Acquires Shares of 2,640 Elbit Systems Ltd. (NASDAQ:ESLT)

Frank Rimerman Advisors LLC acquired a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,640 shares of the aerospace company's stock, valued at approximately $466,000.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc raised its holdings in Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company's stock valued at $1,545,000 after acquiring an additional 73 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Elbit Systems by 56.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company's stock worth $49,000 after purchasing an additional 84 shares during the last quarter. Parallel Advisors LLC grew its holdings in Elbit Systems by 21.2% during the 4th quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company's stock worth $114,000 after acquiring an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Elbit Systems by 8.8% during the first quarter. Sequoia Financial Advisors LLC now owns 1,284 shares of the aerospace company's stock valued at $270,000 after buying an additional 104 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Elbit Systems by 368.6% during the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company's stock worth $29,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

Wall Street Analysts Forecast Growth

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

Elbit Systems Stock Performance

ESLT traded down $0.10 during trading on Wednesday, reaching $194.10. 35,401 shares of the company's stock were exchanged, compared to its average volume of 23,101. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $225.64. The company has a market capitalization of $8.63 billion, a P/E ratio of 38.21 and a beta of 0.54. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $192.81 and a 200 day moving average price of $194.41.

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

Elbit Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, October 15th. Elbit Systems's payout ratio is presently 32.68%.

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.