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

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

Elbit Systems Trading Down 0.4 %

Shares of NASDAQ ESLT traded down $0.97 during trading on Tuesday, hitting $236.25. 2,562 shares of the company traded hands, compared to its average volume of 23,476. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.50 billion, a P/E ratio of 43.61 and a beta of 0.51. The company has a 50-day moving average price of $210.43 and a 200-day moving average price of $197.84. Elbit Systems has a 1 year low of $175.30 and a 1 year high of $241.30.

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 the consensus estimate of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business posted $1.57 EPS. On average, equities analysts predict that Elbit Systems will post 7.8 EPS for the current year.

Hedge Funds Weigh In On Elbit Systems

A number of institutional investors have recently made changes to their positions in the business. PDT Partners LLC boosted its stake in Elbit Systems by 28.6% during the 3rd quarter. PDT Partners LLC now owns 5,709 shares of the aerospace company’s stock valued at $1,142,000 after acquiring an additional 1,271 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Elbit Systems by 22.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 13,767 shares of the aerospace company’s stock valued at $2,742,000 after purchasing an additional 2,556 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Elbit Systems by 99.4% during the third quarter. BNP Paribas Financial Markets now owns 3,390 shares of the aerospace company’s stock worth $678,000 after purchasing an additional 1,690 shares during the last quarter. Bank of Montreal Can grew its stake in Elbit Systems by 1.7% in the third quarter. Bank of Montreal Can now owns 10,351 shares of the aerospace company’s stock worth $2,071,000 after purchasing an additional 169 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Elbit Systems by 22.5% in the third quarter. Cerity Partners LLC now owns 3,158 shares of the aerospace company’s stock valued at $632,000 after buying an additional 579 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

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.