Legal Advantage Investments Inc. Reduces Holdings in Elbit Systems Ltd. (NASDAQ:ESLT)

Legal Advantage Investments Inc. reduced its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,030 shares of the aerospace company’s stock after selling 400 shares during the quarter. Elbit Systems accounts for about 2.1% of Legal Advantage Investments Inc.’s investment portfolio, making the stock its 15th largest holding. Legal Advantage Investments Inc.’s holdings in Elbit Systems were worth $3,879,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd boosted its holdings in shares of Elbit Systems by 2.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock valued at $161,177,000 after buying an additional 18,014 shares during the period. Meitav Investment House Ltd. raised its position in Elbit Systems by 41.3% in the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after acquiring an additional 98,440 shares in the last quarter. Heard Capital LLC lifted its holdings in shares of Elbit Systems by 4.8% during the third quarter. Heard Capital LLC now owns 218,392 shares of the aerospace company’s stock valued at $43,700,000 after purchasing an additional 10,070 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Elbit Systems by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 170,703 shares of the aerospace company’s stock valued at $34,158,000 after buying an additional 18,614 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Elbit Systems by 0.5% during the 3rd quarter. Swiss National Bank now owns 79,626 shares of the aerospace company’s stock valued at $15,896,000 after buying an additional 368 shares during the period. Institutional investors own 17.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th.

Elbit Systems Stock Performance

Shares of NASDAQ:ESLT opened at $297.82 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $13.24 billion, a P/E ratio of 50.91 and a beta of 0.52. The business has a 50-day moving average price of $258.81 and a two-hundred day moving average price of $220.79. Elbit Systems Ltd. has a 1-year low of $175.30 and a 1-year high of $298.83.

Elbit Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Monday, December 23rd were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Elbit Systems’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.67%. Elbit Systems’s dividend payout ratio (DPR) is 28.38%.

About Elbit Systems

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.