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

Elbit Systems Ltd. (NASDAQ:ESLT) reached a new 52-week high on Thursday . The stock traded as high as $775.99 and last traded at $755.52, with a volume of 187842 shares trading hands. The stock had previously closed at $761.52.

Wall Street Analyst Weigh In

ESLT has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Elbit Systems from $530.00 to $580.00 and gave the company a “neutral” rating in a research note on Friday, December 19th. Morgan Stanley assumed coverage on Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Zacks Research cut shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Performance

The firm has a market capitalization of $34.19 billion, a P/E ratio of 78.15, a P/E/G ratio of 2.32 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. The stock’s 50 day moving average is $679.62 and its two-hundred day moving average is $554.57.

Hedge Funds Weigh In On Elbit Systems

Institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd grew its holdings in Elbit Systems by 34.4% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock valued at $893,941,000 after purchasing an additional 397,049 shares during the period. Vanguard Group Inc. grew its holdings in shares of Elbit Systems by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock valued at $573,131,000 after buying an additional 13,406 shares during the period. Van ECK Associates Corp increased its position in shares of Elbit Systems by 3,162.0% in the 3rd 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 in the last quarter. Y.D. More Investments Ltd lifted its holdings in Elbit Systems by 3.0% during the fourth quarter. Y.D. More Investments Ltd now owns 618,325 shares of the aerospace company’s stock worth $356,345,000 after acquiring an additional 18,289 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in 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 during the period. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.