Elbit Systems (NASDAQ:ESLT) Releases Earnings Results, Beats Estimates By $0.18 EPS

Elbit Systems (NASDAQ:ESLT) released its earnings results on Tuesday. The aerospace company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18, Zacks reports. Elbit Systems had a net margin of 4.62% and a return on equity of 10.53%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $1.68 earnings per share.

Elbit Systems Stock Up 0.2 %

NASDAQ:ESLT opened at $204.57 on Wednesday. Elbit Systems has a 52 week low of $166.35 and a 52 week high of $225.64. The firm has a market capitalization of $9.09 billion, a PE ratio of 33.70 and a beta of 0.55. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $208.07 and a 200-day moving average of $204.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Friday, December 1st.

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently made changes to their positions in ESLT. Alliancebernstein L.P. increased its holdings in shares of Elbit Systems by 0.9% during the third quarter. Alliancebernstein L.P. now owns 6,670 shares of the aerospace company’s stock valued at $1,268,000 after purchasing an additional 59 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Elbit Systems by 30.1% in the second quarter. Tower Research Capital LLC TRC now owns 324 shares of the aerospace company’s stock valued at $68,000 after acquiring an additional 75 shares in the last quarter. Creative Planning raised its holdings in Elbit Systems by 3.3% during the third quarter. Creative Planning now owns 2,594 shares of the aerospace company’s stock worth $514,000 after purchasing an additional 82 shares in the last quarter. HighTower Advisors LLC boosted its stake in Elbit Systems by 3.2% during the 1st quarter. HighTower Advisors LLC now owns 2,708 shares of the aerospace company’s stock valued at $598,000 after purchasing an additional 83 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Elbit Systems by 14.9% during the 1st quarter. Captrust Financial Advisors now owns 695 shares of the aerospace company’s stock valued at $153,000 after purchasing an additional 90 shares during the period. 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.