Elbit Systems Ltd. $ESLT Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Elbit Systems Ltd. (NASDAQ:ESLT) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,354 shares of the aerospace company’s stock, valued at approximately $923,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust increased its position in Elbit Systems by 100.0% during the 3rd quarter. Grove Bank & Trust now owns 50 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 25 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Elbit Systems in the third quarter valued at approximately $35,000. Optiver Holding B.V. acquired a new position in Elbit Systems during the first quarter valued at approximately $46,000. IFP Advisors Inc grew its stake in Elbit Systems by 225.0% during the second quarter. IFP Advisors Inc now owns 65 shares of the aerospace company’s stock worth $49,000 after buying an additional 45 shares during the period. Finally, Archer Investment Corp purchased a new stake in Elbit Systems during the first quarter worth approximately $85,000. 17.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a research report on Monday, October 5th. JPMorgan Chase & Co. reduced their target price on shares of Elbit Systems from $950.00 to $885.00 and set a “neutral” rating on the stock in a report on Wednesday, August 19th. Weiss Ratings raised shares of Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Morgan Stanley set a $850.00 price target on Elbit Systems in a report on Friday, October 16th. Finally, Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Elbit Systems presently has an average rating of “Hold” and an average target price of $841.67.

Elbit Systems Price Performance

NASDAQ ESLT opened at $682.59 on Monday. The stock has a market cap of $30.34 billion, a PE ratio of 51.44, a P/E/G ratio of 2.76 and a beta of 0.09. Elbit Systems Ltd. has a fifty-two week low of $453.00 and a fifty-two week high of $1,016.06. The business has a 50 day moving average price of $721.87 and a two-hundred day moving average price of $783.95. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.04.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings data on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.69 by $0.45. Elbit Systems had a net margin of 7.44% and a return on equity of 16.66%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.25 billion. As a group, sell-side analysts predict that Elbit Systems Ltd. will post 16.02 EPS for the current fiscal year.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense technology company headquartered in Haifa. Founded in 1966, it develops and supplies electronic systems and related services for military and security customers.

Its products include aircraft and helicopter systems, unmanned aircraft, electro-optical equipment, communications and command-and-control systems, electronic warfare and intelligence solutions, and land and naval systems. The company also provides training and simulation, maintenance, and modernization services.

Elbit Systems serves customers in Israel and internationally, with operations and subsidiaries in multiple countries.