Spectrum Asset Management Inc. NB CA Buys New Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Spectrum Asset Management Inc. NB CA acquired a new stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,810 shares of the aerospace company's stock, valued at approximately $762,000.

Several other large investors also recently bought and sold shares of ESLT. Blue Trust Inc. lifted its holdings in shares of Elbit Systems by 368.6% in the 2nd quarter. Blue Trust Inc. now owns 164 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 129 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Elbit Systems in the second quarter valued at about $35,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company's stock worth $49,000 after buying an additional 84 shares during the period. Janiczek Wealth Management LLC grew its holdings in shares of Elbit Systems by 53.8% during the first quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company's stock worth $86,000 after buying an additional 143 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Elbit Systems in the 2nd quarter valued at about $143,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Elbit Systems Stock Performance

NASDAQ:ESLT traded up $0.56 during mid-day trading on Thursday, reaching $208.44. The stock had a trading volume of 14,598 shares, compared to its average volume of 23,080. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $225.64. The business has a 50 day simple moving average of $201.37 and a 200 day simple moving average of $194.65. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 40.97 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.77 by $0.31. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period last year, the firm earned $1.57 EPS. On average, analysts expect that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Tuesday, October 15th. Elbit Systems's dividend payout ratio is currently 32.68%.

Wall Street Analyst Weigh In

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

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.