Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $240.02 and last traded at $240.02, with a volume of 7216 shares changing hands. The stock had previously closed at $235.28.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Elbit Systems Stock Down 1.2 %

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 stock has a market cap of $10.60 billion, a P/E ratio of 43.82 and a beta of 0.51. The stock’s fifty day simple moving average is $209.72 and its 200-day simple moving average is $197.56.

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

Institutional Trading of Elbit Systems

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