Tidal Investments LLC Has $3.87 Million Stake in Elbit Systems Ltd. (NASDAQ:ESLT)

Tidal Investments LLC lifted its stake in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,340 shares of the aerospace company’s stock after purchasing an additional 855 shares during the period. Tidal Investments LLC’s holdings in Elbit Systems were worth $3,870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp boosted its position in shares of Elbit Systems by 4.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock worth $253,000 after purchasing an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Elbit Systems by 2.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,987 shares of the aerospace company’s stock valued at $598,000 after purchasing an additional 72 shares in the last quarter. TD Asset Management Inc raised its holdings in Elbit Systems by 0.8% during the second quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock worth $1,545,000 after acquiring an additional 73 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Elbit Systems by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company’s stock valued at $2,482,000 after buying an additional 92 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Elbit Systems by 8.8% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,421 shares of the aerospace company’s stock worth $284,000 after purchasing an additional 115 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

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 Price Performance

Shares of Elbit Systems stock opened at $251.43 on Friday. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 42.98 and a beta of 0.52. Elbit Systems Ltd. has a twelve month low of $175.30 and a twelve month high of $255.02. The company has a 50-day simple moving average of $231.89 and a two-hundred day simple moving average of $204.89. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of 0.10.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 23rd will be given a dividend of $0.50 per share. The ex-dividend date is Monday, December 23rd. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42. Elbit Systems’s payout ratio is currently 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.