Y.D. More Investments Ltd Has $71.33 Million Position in Elbit Systems Ltd. (NASDAQ:ESLT)

Y.D. More Investments Ltd increased its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 32,724.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 403,742 shares of the aerospace company’s stock after acquiring an additional 402,512 shares during the quarter. Elbit Systems comprises 7.2% of Y.D. More Investments Ltd’s investment portfolio, making the stock its 2nd largest holding. Y.D. More Investments Ltd owned approximately 0.91% of Elbit Systems worth $71,329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heard Capital LLC bought a new position in shares of Elbit Systems in the fourth quarter worth $26,428,000. Wealth Enhancement Advisory Services LLC bought a new position in Elbit Systems in the 1st quarter worth about $10,893,000. Meitav Investment House Ltd. grew its holdings in Elbit Systems by 13.2% during the 2nd quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock valued at $42,117,000 after buying an additional 27,851 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Elbit Systems by 34.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after buying an additional 24,484 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of Elbit Systems in the first quarter worth about $3,888,000. 17.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Down 1.3 %

Elbit Systems stock opened at $195.22 on Thursday. The stock has a market cap of $8.68 billion, a P/E ratio of 38.43 and a beta of 0.53. Elbit Systems Ltd. has a fifty-two week low of $175.30 and a fifty-two week high of $225.64. The firm’s fifty day moving average price is $191.61 and its 200-day moving average price is $196.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.66 and a current ratio of 1.16.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.31. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a return on equity of 10.78% and a net margin of 3.85%. During the same quarter last year, the firm posted $1.57 EPS. Equities research analysts forecast that Elbit Systems Ltd. will post 7.8 earnings per share for the current fiscal year.

Elbit Systems Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.66 annualized dividend and a yield of 0.85%. Elbit Systems’s payout ratio is presently 32.68%.

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.