Trexquant Investment LP Cuts Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Trexquant Investment LP lowered its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 78.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 917 shares of the aerospace company's stock after selling 3,347 shares during the period. Trexquant Investment LP's holdings in Elbit Systems were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC increased its holdings in Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company's stock valued at $32,000 after buying an additional 75 shares during the period. Sierra Ocean LLC bought a new stake in shares of Elbit Systems in the fourth quarter worth $41,000. Smartleaf Asset Management LLC increased its stake in shares of Elbit Systems by 196.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company's stock valued at $41,000 after buying an additional 106 shares during the period. Morse Asset Management Inc acquired a new stake in Elbit Systems during the 3rd quarter valued at approximately $40,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Elbit Systems in the third quarter valued at $63,000. Institutional investors and hedge funds own 17.88% of the company's stock.

Analyst Ratings Changes

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

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Elbit Systems Stock Down 0.9 %

Shares of ESLT stock traded down $3.81 on Tuesday, hitting $404.48. The stock had a trading volume of 61,985 shares, compared to its average volume of 38,198. The business has a 50 day moving average of $354.81 and a 200 day moving average of $286.87. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 69.14 and a beta of 0.32. Elbit Systems Ltd. has a 12-month low of $175.30 and a 12-month high of $420.00. 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 (NASDAQ:ESLT - Get Free Report) last issued its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, analysts expect that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Elbit Systems's previous quarterly dividend of $0.50. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. Elbit Systems's dividend payout ratio is currently 27.72%.

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.