Russell Investments Group Ltd. Sells 7,322 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Russell Investments Group Ltd. reduced its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,425 shares of the aerospace company's stock after selling 7,322 shares during the quarter. Russell Investments Group Ltd. owned about 0.21% of Elbit Systems worth $24,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ESLT. Hurley Capital LLC acquired a new stake in Elbit Systems in the fourth quarter worth about $26,000. Geode Capital Management LLC boosted its stake in shares of Elbit Systems by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 38,786 shares of the aerospace company's stock valued at $10,010,000 after purchasing an additional 360 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of 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 buying an additional 145,324 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Elbit Systems by 150.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock worth $32,000 after buying an additional 75 shares during the last quarter. Finally, TIAA Trust National Association acquired a new position in Elbit Systems in the fourth quarter valued at approximately $234,000. Institutional investors and hedge funds own 17.88% of the company's stock.

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Elbit Systems Trading Up 1.4 %

Shares of NASDAQ ESLT traded up $5.79 during midday trading on Monday, reaching $412.00. 15,770 shares of the stock were exchanged, compared to its average volume of 37,905. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $420.00. The business has a 50-day simple moving average of $350.90 and a two-hundred day simple moving average of $284.56. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 70.43 and a beta of 0.32.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last posted its 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 firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, equities research analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. 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 of this dividend is Tuesday, April 22nd. Elbit Systems's dividend payout ratio (DPR) is 27.72%.

Wall Street Analyst Weigh In

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 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.