Commonwealth Equity Services LLC Cuts Stock Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Commonwealth Equity Services LLC lowered its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,820 shares of the aerospace company’s stock after selling 97 shares during the period. Commonwealth Equity Services LLC’s holdings in Elbit Systems were worth $322,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its position in shares of Elbit Systems by 368.6% during the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 129 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Elbit Systems by 56.8% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 84 shares during the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Elbit Systems by 53.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock worth $86,000 after purchasing an additional 143 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Elbit Systems by 21.2% in the 4th quarter. Parallel Advisors LLC now owns 537 shares of the aerospace company’s stock worth $114,000 after buying an additional 94 shares during the last quarter. Finally, TIAA Trust National Association bought a new position in Elbit Systems during the first quarter valued at about $201,000. 17.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Elbit Systems Price Performance

Shares of NASDAQ ESLT opened at $191.84 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $192.67 and a two-hundred day simple moving average of $194.56. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $225.64. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 37.76 and a beta of 0.54.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.31. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $1.57 EPS. Analysts anticipate that Elbit Systems Ltd. will post 7.8 earnings per share for the current year.

Elbit Systems Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Tuesday, October 15th will be paid a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, October 15th. Elbit Systems’s payout ratio is currently 32.68%.

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.