Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 73.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,185 shares of the aerospace company's stock after buying an additional 2,627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Elbit Systems were worth $1,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in Elbit Systems by 99.4% during the third quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company's stock worth $678,000 after buying an additional 1,690 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Elbit Systems by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company's stock worth $34,158,000 after buying an additional 18,614 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Elbit Systems by 50.3% in the 3rd quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company's stock valued at $2,107,000 after purchasing an additional 3,524 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Elbit Systems by 5.3% in the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company's stock valued at $11,817,000 after purchasing an additional 2,317 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Elbit Systems by 12.1% in the 3rd quarter. Systematic Financial Management LP now owns 74,322 shares of the aerospace company's stock valued at $14,872,000 after purchasing an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 17.88% of the company's stock.

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Elbit Systems Trading Down 0.5 %

Shares of Elbit Systems stock traded down $2.17 during trading hours on Friday, hitting $410.83. The company's stock had a trading volume of 150,276 shares, compared to its average volume of 33,336. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $420.03. The firm has a fifty day moving average of $318.45 and a 200-day moving average of $259.94. The stock has a market cap of $18.26 billion, a price-to-earnings ratio of 70.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15.

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, topping the consensus estimate of $1.95 by $0.71. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.78 billion. Research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Tuesday, April 22nd will be paid a dividend of $0.60 per share. This is a positive change from Elbit Systems's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, April 22nd. This represents a $2.40 annualized dividend and a yield of 0.58%. Elbit Systems's dividend payout ratio is presently 27.72%.

Analysts Set New Price Targets

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

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.