Elbit Systems (NASDAQ:ESLT) Stock Rating Upgraded by StockNews.com

Elbit Systems (NASDAQ:ESLT) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.

Elbit Systems Stock Down 0.3 %

Shares of ESLT traded down $0.52 during mid-day trading on Wednesday, hitting $179.98. 33,095 shares of the company’s stock were exchanged, compared to its average volume of 23,108. The stock’s 50-day moving average is $186.01 and its 200-day moving average is $198.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.66 and a current ratio of 1.16. Elbit Systems has a fifty-two week low of $175.30 and a fifty-two week high of $225.64. The company has a market cap of $8.00 billion, a price-to-earnings ratio of 35.43 and a beta of 0.53.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, May 28th. The aerospace company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. Elbit Systems had a net margin of 3.70% and a return on equity of 10.14%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $1.70 EPS. On average, sell-side analysts anticipate that Elbit Systems will post 7.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Altshuler Shaham Ltd lifted its stake in Elbit Systems by 5,555.9% in the fourth quarter. Altshuler Shaham Ltd now owns 552,473 shares of the aerospace company’s stock worth $118,050,000 after acquiring an additional 542,705 shares during the last quarter. Heard Capital LLC acquired a new position in shares of Elbit Systems during the fourth quarter worth $26,428,000. Wealth Enhancement Advisory Services LLC purchased a new position in Elbit Systems in the first quarter valued at $10,893,000. International Assets Investment Management LLC acquired a new stake in Elbit Systems in the fourth quarter valued at $90,950,000. Finally, Meitav Investment House Ltd. lifted its holdings in Elbit Systems by 13.2% during the 2nd quarter. Meitav Investment House Ltd. now owns 238,396 shares of the aerospace company’s stock worth $42,117,000 after buying an additional 27,851 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Elbit Systems Company Profile

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.