Elbit Systems (NASDAQ:ESLT) Stock Crosses Above 50-Day Moving Average – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $722.93 and traded as high as $744.32. Elbit Systems shares last traded at $740.17, with a volume of 55,610 shares trading hands.

Wall Street Analyst Weigh In

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

Elbit Systems Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.39. The stock has a market cap of $32.90 billion, a price-to-earnings ratio of 55.78, a price-to-earnings-growth ratio of 2.92 and a beta of 0.09. The business’s fifty day simple moving average is $722.93 and its 200 day simple moving average is $784.15.

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

Institutional Investors Weigh In On Elbit Systems

A number of hedge funds have recently bought and sold shares of ESLT. Ieq Capital LLC acquired a new stake in shares of Elbit Systems during the third quarter worth approximately $216,000. Voya Investment Management LLC increased its stake in shares of Elbit Systems by 0.3% in the third quarter. Voya Investment Management LLC now owns 70,356 shares of the aerospace company’s stock worth $47,073,000 after buying an additional 227 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Elbit Systems by 1.5% in the third quarter. Public Sector Pension Investment Board now owns 16,754 shares of the aerospace company’s stock valued at $11,141,000 after acquiring an additional 241 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Elbit Systems by 100.0% in the third quarter. Global Retirement Partners LLC now owns 38 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 19 shares in the last quarter. Finally, Ethic Inc. bought a new position in Elbit Systems during the 3rd quarter valued at $242,000. Institutional investors and hedge funds own 17.88% of the company’s stock.

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.