Nikko Asset Management Americas Inc. Sells 5,652 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Nikko Asset Management Americas Inc. decreased its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,127 shares of the aerospace company's stock after selling 5,652 shares during the period. Nikko Asset Management Americas Inc. owned 0.07% of Elbit Systems worth $7,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in Elbit Systems by 7.3% in the fourth quarter. Blue Trust Inc. now owns 987 shares of the aerospace company's stock worth $255,000 after buying an additional 67 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Elbit Systems by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company's stock worth $2,482,000 after purchasing an additional 92 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 106 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Elbit Systems by 10.2% in the 4th quarter. Signaturefd LLC now owns 1,239 shares of the aerospace company's stock valued at $320,000 after purchasing an additional 115 shares during the last quarter. Finally, State Street Corp boosted its holdings in Elbit Systems by 3.1% in the third quarter. State Street Corp now owns 4,534 shares of the aerospace company's stock worth $907,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

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Analyst Ratings Changes

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

Elbit Systems Stock Performance

Shares of Elbit Systems stock traded down $2.17 on Friday, reaching $410.83. The stock had a trading volume of 150,487 shares, compared to its average volume of 33,337. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $420.03. The business's 50-day moving average price is $318.45 and its two-hundred day moving average price is $259.94. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. The stock has a market cap of $18.26 billion, a P/E ratio of 70.23 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.71. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. On average, sell-side analysts forecast 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 given a $0.60 dividend. This is an increase from Elbit Systems's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, April 22nd. Elbit Systems's payout ratio is currently 27.72%.

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.