Elbit Systems (NASDAQ:ESLT) Downgraded to Hold at BidaskClub

BidaskClub downgraded shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a report issued on Saturday, BidAskClub reports.

Several other equities research analysts also recently issued reports on the company. Standpoint Research downgraded Elbit Systems from a buy rating to a hold rating in a report on Thursday, July 25th. ValuEngine downgraded Elbit Systems from a buy rating to a hold rating in a report on Thursday, August 1st.

Shares of Elbit Systems stock opened at $155.19 on Friday. The stock has a fifty day simple moving average of $156.25 and a 200 day simple moving average of $142.46. Elbit Systems has a 12-month low of $109.81 and a 12-month high of $166.50. The company has a market capitalization of $6.67 billion, a P/E ratio of 23.85 and a beta of 0.80. The company has a current ratio of 1.10, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Elbit Systems (NASDAQ:ESLT) last announced its quarterly earnings results on Thursday, August 15th. The aerospace company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.04). Elbit Systems had a return on equity of 14.99% and a net margin of 4.18%. The company had revenue of $1.06 billion for the quarter.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Elbit Systems by 2.4% during the second quarter. Vanguard Group Inc. now owns 619,310 shares of the aerospace company’s stock worth $92,592,000 after buying an additional 14,355 shares in the last quarter. Delek Group Ltd. boosted its position in Elbit Systems by 6.9% in the second quarter. Delek Group Ltd. now owns 106,961 shares of the aerospace company’s stock worth $15,572,000 after purchasing an additional 6,914 shares during the last quarter. Renaissance Technologies LLC boosted its position in Elbit Systems by 2.7% in the second quarter. Renaissance Technologies LLC now owns 101,400 shares of the aerospace company’s stock worth $15,160,000 after purchasing an additional 2,700 shares during the last quarter. Systematic Financial Management LP boosted its position in Elbit Systems by 2.8% in the first quarter. Systematic Financial Management LP now owns 98,166 shares of the aerospace company’s stock worth $12,663,000 after purchasing an additional 2,682 shares during the last quarter. Finally, Swiss National Bank boosted its position in Elbit Systems by 0.6% in the first quarter. Swiss National Bank now owns 85,873 shares of the aerospace company’s stock worth $11,085,000 after purchasing an additional 516 shares during the last quarter. Institutional investors and hedge funds own 8.36% of the company’s stock.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; munitions; command, control, communications, computer, intelligence, surveillance, and reconnaissance and cyber systems; electronic warfare and signal intelligence systems; and commercial cyber security products.

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