Millennium Management LLC Purchases 20,932 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Millennium Management LLC increased its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 253.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,204 shares of the aerospace company’s stock after purchasing an additional 20,932 shares during the quarter. Millennium Management LLC owned 0.07% of Elbit Systems worth $5,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted 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 purchasing an additional 129 shares during the period. Point72 DIFC Ltd bought a new stake in Elbit Systems during the second quarter worth about $35,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 84 shares during the period. Janiczek Wealth Management LLC lifted its position in Elbit Systems by 53.8% during the first 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. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Elbit Systems during the second quarter worth about $143,000. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Up 0.1 %

ESLT stock opened at $205.63 on Friday. The stock has a market capitalization of $9.14 billion, a P/E ratio of 37.80 and a beta of 0.53. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $225.64. The firm has a 50-day moving average price of $197.69 and a 200-day moving average price of $194.51.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations 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 prior year, the business earned $1.57 earnings per share. As a group, equities research analysts anticipate that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th will be issued a $0.416 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.81%. Elbit Systems’s dividend payout ratio (DPR) is currently 30.51%.

Analysts Set New Price Targets

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

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.