PNC Financial Services Group Inc. Trims Stock Position in Elbit Systems Ltd. (NASDAQ:ESLT)

PNC Financial Services Group Inc. decreased its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,941 shares of the aerospace company’s stock after selling 132 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Elbit Systems were worth $1,189,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd raised its stake in shares of Elbit Systems by 2.0% in the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after buying an additional 18,014 shares during the period. Vanguard Group Inc. increased its holdings in Elbit Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company’s stock worth $174,597,000 after acquiring an additional 11,643 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Elbit Systems by 32,724.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after acquiring an additional 402,512 shares during the period. Meitav Investment House Ltd. lifted its holdings in Elbit Systems by 41.3% during the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock valued at $67,264,000 after purchasing an additional 98,440 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Elbit Systems by 0.5% during the third quarter. Swiss National Bank now owns 79,626 shares of the aerospace company’s stock valued at $15,896,000 after purchasing an additional 368 shares in the last quarter. 17.88% of the stock is currently owned by institutional investors.

Elbit Systems Stock Down 3.3 %

NASDAQ ESLT opened at $244.55 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $255.02. The stock’s 50 day moving average is $218.45 and its 200 day moving average is $200.37. The stock has a market cap of $10.87 billion, a PE ratio of 41.81 and a beta of 0.51.

Elbit Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Monday, December 23rd will be issued a $0.50 dividend. 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 yield of 0.82%. The ex-dividend date is Monday, December 23rd. Elbit Systems’s payout ratio is currently 28.38%.

Analyst Ratings Changes

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

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.