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

Elbit Systems (NASDAQ:ESLT) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Elbit Systems Price Performance

Elbit Systems stock opened at $238.37 on Tuesday. The company has a market capitalization of $10.60 billion, a PE ratio of 43.82 and a beta of 0.51. The business has a 50 day simple moving average of $209.72 and a 200 day simple moving average of $197.56. Elbit Systems has a one year low of $175.30 and a one year high of $241.30. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.13 and a quick ratio of 0.63.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results 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 analysts’ expectations of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same quarter last year, the company posted $1.57 EPS. On average, sell-side analysts forecast that Elbit Systems will post 7.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Elbit Systems by 4.0% during the second quarter. Mackenzie Financial Corp now owns 1,452 shares of the aerospace company’s stock worth $253,000 after purchasing an additional 56 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in Elbit Systems by 2.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,987 shares of the aerospace company’s stock worth $598,000 after acquiring an additional 72 shares during the last quarter. TD Asset Management Inc increased its position in Elbit Systems by 0.8% in the 2nd quarter. TD Asset Management Inc now owns 8,839 shares of the aerospace company’s stock valued at $1,545,000 after acquiring an additional 73 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Elbit Systems by 56.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 232 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 84 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Elbit Systems by 0.7% during the third quarter. Advisors Asset Management Inc. now owns 12,402 shares of the aerospace company’s stock worth $2,482,000 after purchasing an additional 92 shares in 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.