Cubist Systematic Strategies LLC Sells 214 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Cubist Systematic Strategies LLC lowered its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 38.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 345 shares of the aerospace company’s stock after selling 214 shares during the period. Cubist Systematic Strategies LLC’s holdings in Elbit Systems were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Elbit Systems during the 2nd quarter worth about $143,000. Point72 Asset Management L.P. lifted its stake in shares of Elbit Systems by 123.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,700 shares of the aerospace company’s stock valued at $830,000 after purchasing an additional 2,600 shares during the period. Susquehanna International Group Ltd. acquired a new position in shares of Elbit Systems in the 2nd quarter valued at about $232,000. Mackenzie Financial Corp increased its position in Elbit Systems by 4.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock valued at $253,000 after buying an additional 56 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Elbit Systems by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,287 shares of the aerospace company’s stock valued at $1,980,000 after buying an additional 173 shares in the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $209.80 on Thursday. Elbit Systems Ltd. has a one year low of $175.30 and a one year high of $225.64. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 41.30 and a beta of 0.53. The business has a 50-day simple moving average of $199.38 and a 200 day simple moving average of $194.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.63.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.31. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period in the previous year, the company posted $1.57 EPS. On average, research analysts anticipate that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Tuesday, October 15th. Elbit Systems’s dividend payout ratio is currently 32.68%.

Analyst Upgrades and Downgrades

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

About Elbit Systems

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.