Schafer Cullen Capital Management Inc. Lowers Position in Elbit Systems Ltd. (ESLT)

Schafer Cullen Capital Management Inc. trimmed its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,316 shares of the aerospace company’s stock after selling 1,645 shares during the period. Schafer Cullen Capital Management Inc. owned 0.22% of Elbit Systems worth $11,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ESLT. JPMorgan Chase & Co. boosted its stake in shares of Elbit Systems by 84.1% during the 1st quarter. JPMorgan Chase & Co. now owns 39,979 shares of the aerospace company’s stock worth $4,544,000 after purchasing an additional 18,258 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Elbit Systems during the 1st quarter worth about $269,000. FMR LLC boosted its stake in shares of Elbit Systems by 63.3% during the 1st quarter. FMR LLC now owns 1,267,127 shares of the aerospace company’s stock worth $144,347,000 after purchasing an additional 491,263 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in shares of Elbit Systems by 37.2% during the 2nd quarter. Eagle Global Advisors LLC now owns 10,701 shares of the aerospace company’s stock worth $1,324,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Elbit Systems by 5.6% during the 1st quarter. Renaissance Technologies LLC now owns 199,235 shares of the aerospace company’s stock worth $22,643,000 after purchasing an additional 10,500 shares during the last quarter. 11.13% of the stock is currently owned by hedge funds and other institutional investors.

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Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, August 15th. The aerospace company reported $1.61 earnings per share for the quarter. The company had revenue of $818.30 million for the quarter. Elbit Systems had a return on equity of 16.38% and a net margin of 7.23%.

The company also recently declared a dividend, which was paid on Monday, September 18th. Investors of record on Friday, September 1st were paid a $0.44 dividend. This is a boost from Elbit Systems’s previous dividend of $0.37. The ex-dividend date was Wednesday, August 30th. Elbit Systems’s payout ratio is presently 31.54%.

Several equities research analysts have issued reports on ESLT shares. ValuEngine raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. BidaskClub cut shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Standpoint Research cut shares of Elbit Systems from an “accumulate” rating to a “hold” rating in a research note on Thursday, October 5th.

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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Institutional Ownership by Quarter for Elbit Systems (NASDAQ:ESLT)

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