Sequoia Financial Advisors LLC Increases Stock Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Sequoia Financial Advisors LLC boosted its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,421 shares of the aerospace company’s stock after purchasing an additional 115 shares during the period. Sequoia Financial Advisors LLC’s holdings in Elbit Systems were worth $284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Elbit Systems by 368.6% in the second quarter. Blue Trust Inc. now owns 164 shares of the aerospace company’s stock worth $29,000 after buying an additional 129 shares during the period. Point72 DIFC Ltd bought a new stake in Elbit Systems during the 2nd quarter valued at approximately $35,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Elbit Systems during the 2nd quarter valued at approximately $143,000. Finally, TIAA Trust National Association bought a new stake in Elbit Systems during the 1st quarter valued at approximately $201,000. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Stock Performance

NASDAQ:ESLT opened at $226.97 on Tuesday. 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 Ltd. has a 1 year low of $175.30 and a 1 year high of $229.70. The stock’s 50 day simple moving average is $202.30 and its two-hundred day simple moving average is $194.89. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 41.72 and a beta of 0.53.

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

Elbit Systems Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, October 15th. Elbit Systems’s payout ratio is 30.51%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Elbit Systems from a “buy” rating to a “strong-buy” rating in a research note 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.