Elbit Systems (NASDAQ:ESLT) Sets New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

ESLT has been the topic of a number of research analyst 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 report on Friday, December 19th. Morgan Stanley began coverage on Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price on the stock. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Performance

The business has a fifty day simple moving average of $689.60 and a 200-day simple moving average of $561.18. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The firm has a market cap 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd raised its holdings in Elbit Systems by 34.4% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after buying an additional 397,049 shares during the last quarter. Vanguard Group Inc. raised its holdings in Elbit Systems by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 998,267 shares of the aerospace company’s stock worth $573,131,000 after acquiring an additional 13,406 shares during the last quarter. Van ECK Associates Corp lifted its position in 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 acquiring an additional 628,236 shares in the last quarter. Y.D. More Investments Ltd lifted its position in Elbit Systems by 3.0% in the 4th 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 boosted its stake in Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after purchasing an additional 12,003 shares during the last quarter. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Company Profile

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.