Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Should You Buy?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $871.00 and last traded at $870.2210, with a volume of 8726 shares changing hands. The stock had previously closed at $823.08.

Analysts Set New Price Targets

A number of brokerages have weighed in on ESLT. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Morgan Stanley assumed coverage on shares of Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research report on Friday, December 19th. Finally, Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Up 3.1%

The company’s 50-day simple moving average is $689.60 and its two-hundred day simple moving average is $561.18. The firm has a market capitalization of $37.70 billion, a P/E ratio of 86.22, a P/E/G ratio of 2.52 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.32 and a quick ratio of 0.76.

Institutional Trading of Elbit Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of ESLT. Caitong International Asset Management Co. Ltd lifted its position in shares of Elbit Systems by 875.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the aerospace company’s stock valued at $135,000 after buying an additional 210 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Elbit Systems by 3.3% in the 4th quarter. Corient Private Wealth LLC now owns 3,672 shares of the aerospace company’s stock valued at $2,121,000 after acquiring an additional 117 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Elbit Systems by 13.8% in the fourth quarter. Vident Advisory LLC now owns 2,080 shares of the aerospace company’s stock worth $1,202,000 after buying an additional 253 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in shares of Elbit Systems during the 4th quarter valued at approximately $5,615,000. Finally, XTX Topco Ltd bought a new position in Elbit Systems during the fourth quarter valued at $409,000. 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.