Elbit Systems (NASDAQ:ESLT) Rating Lowered to Buy at StockNews.com

Elbit Systems (NASDAQ:ESLT) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Elbit Systems Stock Performance

ESLT stock traded up $6.02 during midday trading on Tuesday, hitting $241.30. The stock had a trading volume of 32,442 shares, compared to its average volume of 23,564. Elbit Systems has a 52 week low of $175.30 and a 52 week high of $241.30. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. The stock has a 50-day simple moving average of $208.97 and a 200 day simple moving average of $197.27. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 44.36 and a beta of 0.51.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.31. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same quarter in the previous year, the firm posted $1.57 earnings per share. As a group, equities research analysts anticipate that Elbit Systems will post 7.8 earnings per share for the current year.

Institutional Trading of Elbit Systems

A number of large investors have recently bought and sold shares of ESLT. Mackenzie Financial Corp boosted its stake 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 valued at $253,000 after purchasing an additional 56 shares in the last quarter. First Trust Direct Indexing L.P. boosted 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 buying an additional 72 shares in the last quarter. TD Asset Management Inc grew its stake 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 buying an additional 73 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Elbit Systems by 56.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after buying an additional 84 shares in the last quarter. Finally, Advisors Asset Management Inc. raised 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 acquiring an additional 92 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors.

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.