Point72 Asia Singapore Pte. Ltd. Acquires New Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 810 shares of the aerospace company’s stock, valued at approximately $143,000.

A number of other large investors have also modified their holdings of ESLT. Blue Trust Inc. boosted its position in Elbit Systems by 368.6% during the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 129 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Elbit Systems during the 2nd quarter worth approximately $35,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Elbit Systems by 56.8% in the first 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 in the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of Elbit Systems by 53.8% in the first quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock valued at $86,000 after purchasing an additional 143 shares during the last quarter. Finally, TIAA Trust National Association purchased a new position in Elbit Systems during the first quarter worth approximately $201,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Price Performance

Elbit Systems stock opened at $201.10 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $194.47 and a 200 day moving average price of $194.31. Elbit Systems Ltd. has a 12-month low of $175.30 and a 12-month high of $225.64. The stock has a market cap of $8.94 billion, a P/E ratio of 39.59 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.77 by $0.31. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same quarter in the previous year, the company earned $1.57 EPS. Sell-side 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. Stockholders of record on Tuesday, October 15th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is presently 32.68%.

Analyst Ratings Changes

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

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.