Elbit Systems (NASDAQ:ESLT) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Elbit Systems (NASDAQ:ESLT) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Elbit Systems Price Performance

ESLT stock opened at $236.88 on Tuesday. The stock has a 50-day moving average price of $211.18 and a two-hundred day moving average price of $198.07. Elbit Systems has a 1 year low of $175.30 and a 1 year high of $241.30. The stock has a market cap of $10.53 billion, a PE ratio of 43.54 and a beta of 0.51. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.31. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same period last year, the company earned $1.57 earnings per share. Equities analysts forecast that Elbit Systems will post 7.8 EPS for the current fiscal year.

Institutional Trading of Elbit Systems

A number of institutional investors have recently made changes to their positions in ESLT. Y.D. More Investments Ltd increased its stake in Elbit Systems by 32,724.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock valued at $71,329,000 after buying an additional 402,512 shares during the last quarter. Meitav Investment House Ltd. boosted its position 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 during the last quarter. Millennium Management LLC boosted its position in Elbit Systems by 253.0% during the second quarter. Millennium Management LLC now owns 29,204 shares of the aerospace company’s stock valued at $5,158,000 after purchasing an additional 20,932 shares during the last quarter. Tidal Investments LLC bought a new position in Elbit Systems in the first quarter valued at approximately $3,888,000. Finally, Altshuler Shaham Ltd increased its position in shares of Elbit Systems by 2.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after purchasing an additional 18,014 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

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.