ARK Investment Management LLC Has $16.46 Million Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

ARK Investment Management LLC decreased its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 82,247 shares of the aerospace company’s stock after selling 8,359 shares during the period. ARK Investment Management LLC’s holdings in Elbit Systems were worth $16,458,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. Altshuler Shaham Ltd lifted its position in Elbit Systems by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after buying an additional 18,014 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Elbit Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company’s stock worth $174,597,000 after purchasing an additional 11,643 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after buying an additional 402,512 shares during the period. Meitav Investment House Ltd. lifted its position in shares of Elbit Systems by 41.3% in the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after buying an additional 98,440 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Elbit Systems by 1.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 53,971 shares of the aerospace company’s stock worth $10,799,000 after acquiring an additional 593 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Elbit Systems Stock Performance

NASDAQ ESLT opened at $230.13 on Friday. The firm has a 50-day moving average of $207.05 and a 200-day moving average of $196.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The stock has a market cap of $10.23 billion, a PE ratio of 42.30 and a beta of 0.51. Elbit Systems Ltd. has a 52-week low of $175.30 and a 52-week high of $237.70.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. The company had revenue of $1.63 billion for 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 quarter last year, the company earned $1.57 earnings per share. On average, sell-side analysts anticipate that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Elbit Systems Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Tuesday, October 15th were given a $0.416 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.72%. Elbit Systems’s payout ratio is presently 30.51%.

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.