Elbit Systems (NASDAQ:ESLT) Rating Lowered 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 morning.

Elbit Systems Price Performance

Shares of NASDAQ:ESLT opened at $241.30 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 1.13. The business’s fifty day moving average price is $208.97 and its two-hundred day moving average price is $197.27. The stock has a market cap of $10.73 billion, a PE ratio of 44.36 and a beta of 0.51. Elbit Systems has a one year low of $175.30 and a one year high of $241.30.

Elbit Systems (NASDAQ:ESLT) last posted its quarterly earnings data on Wednesday, August 14th. The aerospace company reported $2.08 EPS 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 analyst estimates of $1.57 billion. Elbit Systems had a return on equity of 10.70% and a net margin of 3.85%. During the same quarter last year, the company earned $1.57 earnings per share. On average, analysts forecast that Elbit Systems will post 7.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds have recently modified their holdings of ESLT. Russell Investments Group Ltd. boosted its position in Elbit Systems by 57.5% during the first quarter. Russell Investments Group Ltd. now owns 16,007 shares of the aerospace company’s stock worth $3,356,000 after acquiring an additional 5,846 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Elbit Systems by 53.7% during the first quarter. Advisors Asset Management Inc. now owns 10,626 shares of the aerospace company’s stock worth $2,234,000 after purchasing an additional 3,712 shares during the last quarter. Spectrum Asset Management Inc. NB CA purchased a new stake in shares of Elbit Systems in the third quarter valued at $762,000. Cetera Advisors LLC acquired a new position in Elbit Systems in the first quarter valued at $1,966,000. Finally, Marshall Wace LLP purchased a new position in Elbit Systems during the second quarter worth about $2,181,000. 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.