Korea Investment CORP Has $2.11 Million Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Korea Investment CORP reduced its stake in Elbit Systems Ltd. (NASDAQ:ESLT) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,083 shares of the aerospace company’s stock after selling 216 shares during the quarter. Korea Investment CORP’s holdings in Elbit Systems were worth $2,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ESLT. BNP Paribas Financial Markets boosted its position in shares of Elbit Systems by 99.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock valued at $678,000 after purchasing an additional 1,690 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Elbit Systems by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock worth $34,158,000 after buying an additional 18,614 shares during the period. Stifel Financial Corp increased its stake in shares of Elbit Systems by 50.3% in the 3rd quarter. Stifel Financial Corp now owns 10,531 shares of the aerospace company’s stock valued at $2,107,000 after acquiring an additional 3,524 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Elbit Systems by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 45,789 shares of the aerospace company’s stock valued at $11,817,000 after acquiring an additional 2,317 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Elbit Systems by 44.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,140 shares of the aerospace company’s stock worth $810,000 after acquiring an additional 961 shares in the last quarter. Institutional investors and hedge funds own 17.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Elbit Systems Trading Up 1.0 %

Shares of Elbit Systems stock opened at $387.36 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.64 and a current ratio of 1.15. Elbit Systems Ltd. has a 52 week low of $175.30 and a 52 week high of $420.00. The stock has a 50 day moving average price of $334.52 and a two-hundred day moving average price of $271.78. The stock has a market capitalization of $17.22 billion, a PE ratio of 66.22 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a net margin of 4.00% and a return on equity of 11.34%. As a group, equities analysts anticipate that Elbit Systems Ltd. will post 8.05 earnings per share for the current fiscal year.

Elbit Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.60 per share. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. This represents a $2.40 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, April 22nd. Elbit Systems’s payout ratio is currently 27.72%.

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.