Stevens First Principles Investment Advisors cut its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 29,379 shares of the company’s stock after selling 15 shares during the period. Elbit Systems makes up about 2.0% of Stevens First Principles Investment Advisors’ portfolio, making the stock its 22nd largest position. Stevens First Principles Investment Advisors’ holdings in Elbit Systems were worth $2,672,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Elbit Systems by 115.9% in the first quarter. JPMorgan Chase & Co. now owns 22,439 shares of the company’s stock worth $2,106,000 after buying an additional 12,047 shares during the period. Sphera Funds Management LTD. acquired a new stake in Elbit Systems during the first quarter worth approximately $3,242,000. Royal Bank of Canada raised its stake in Elbit Systems by 7.0% in the first quarter. Royal Bank of Canada now owns 3,654 shares of the company’s stock worth $342,000 after buying an additional 239 shares during the period. M&T Bank Corp acquired a new stake in Elbit Systems during the first quarter worth approximately $2,666,000. Finally, Bank of Montreal Can acquired a new stake in Elbit Systems during the second quarter worth approximately $958,000. 5.96% of the stock is owned by institutional investors and hedge funds.
Elbit Systems Ltd. (NASDAQ:ESLT) traded up 0.17% during midday trading on Friday, reaching $95.67. The company had a trading volume of 20,625 shares. Elbit Systems Ltd. has a one year low of $74.46 and a one year high of $103.28. The company has a market capitalization of $4.09 billion, a PE ratio of 18.66 and a beta of 0.74. The stock’s 50 day moving average is $96.89 and its 200 day moving average is $96.18.
Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings results on Tuesday, August 16th. The company reported $1.47 EPS for the quarter. Elbit Systems had a return on equity of 17.62% and a net margin of 6.90%. The business earned $804.50 million during the quarter, compared to analysts’ expectations of $749.50 million. Equities research analysts forecast that Elbit Systems Ltd. will post $4.28 earnings per share for the current fiscal year.
Separately, Standpoint Research began coverage on Elbit Systems in a research report on Monday, August 1st. They set an “accumulate” rating and a $115.00 price target on the stock.
Elbit Systems Company Profile
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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