Elbit Systems (NASDAQ:ESLT) Rating Lowered to “Hold” at Zacks Research

Elbit Systems (NASDAQ:ESLT) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Jefferies Financial Group decreased their price objective on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Elbit Systems has a consensus rating of “Hold” and a consensus price target of $725.25.

Elbit Systems Stock Down 2.4%

NASDAQ ESLT opened at $732.71 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. Elbit Systems has a 52 week low of $422.84 and a 52 week high of $1,016.06. The firm has a market capitalization of $32.57 billion, a price-to-earnings ratio of 59.33, a PEG ratio of 3.19 and a beta of 0.14. The company has a fifty day moving average of $819.47 and a two-hundred day moving average of $766.87.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.89. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.14 billion. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. On average, analysts predict that Elbit Systems will post 15.3 earnings per share for the current year.

Insider Activity

In other Elbit Systems news, EVP Haim Daniel Delmar sold 7,654 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan Ariel sold 7,654 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 69,736 shares of company stock valued at $61,883,726. Insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

Large investors have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd increased its holdings in Elbit Systems by 4.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock worth $1,351,958,000 after purchasing an additional 69,165 shares during the period. Vanguard Group Inc. grew its position in shares of Elbit Systems by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock worth $573,131,000 after buying an additional 13,406 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock valued at $330,404,000 after buying an additional 628,236 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Elbit Systems by 3.0% in the fourth quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company’s stock valued at $356,345,000 after acquiring an additional 18,289 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Elbit Systems by 2.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after acquiring an additional 12,003 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

About Elbit Systems

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.